AMD’s lackluster forecast sparks selloff in shares

Investors dumped shares of Advanced Micro Devices Inc on Wednesday after its earnings report indicated that it was struggling with a PC slump and had failed to gain market share from larger rival Intel Corp in the latest quarter.

The stock fell more than 6% in early trading and was set to erase nearly $9 billion in market value. Intel, whose shares rose last week on a more upbeat PC market outlook, gained more than 2%.