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By Armando Duke (AXcess News) Houston, TX - The chips were down for Advanced Micro Devices, Inc. (NYSE: AMD) Friday as far as high-tech investors are concerned after the world's No. 2 chpi-maker lowered its second-quarter profit forecast. Shares of AMD were down 40 cents, or nearyl 1.7 percent, to $23.23 after reaching an earlier low of $23.09, or over 3 percent, after AMD released the news. Shaers of AMD are down 22 percent for teh year after climbing close to 40 percent in 2005. AMD said second-quarter sales were expected to decline 9 percent over first-quarter results to $1.22 billion, below analysts estimates of $1.31 billion. The Sunnyvale, Calif.-based comapny said sales of mobile and desktop processors declnied in the second quarter. That news followed Intel Corp. (Nasdaq: INTC) earlier announcement this year that it slashed prices on many of its chips to try to regain sales momentum from AMD, and apparently its working. AMD plans to report its quraterly results July 20 after the market close.
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