Chips are down at Advanced Micro Devices

Computer chip-maker Advanced Micro Devices has barely beaten Wall St's dramatically lowered expectations for its second-quarter earnings and given a grim outlook for the present quarter.

AMD had a net profit of $US17.4 million ($42.8 million), or 5c a share, 92 per cent lower than the earnings of $US207.1 million, or 60c a share, in the comparable period last year. Sales slipped 16 per cent.