AMD issues revenue warning

While the tech industry was able to weather the economic slowdown well for most of 2008 (both Intel and NVIDIA posted record quarters at various points this year), the credit crunch in September brought worldwide spending to a halt and now no one’s ordering new equipment. As a result Intel, and now AMD have had to update their guidance for Q4. AMD now expects revenue to be 25% lower than Q3’08. According to AMD, the cause is "due to weaker than expected demand across all geographies and businesses, particularly in the consumer market."