AMD Stock Drops As Chipmaker Disappoints With Modest Quarterly Beat

Advanced Micro Devices (AMD) late Tuesday edged above Wall Street's targets for the second quarter and with its sales outlook. But AMD stock sank in extended trading. The Santa Clara, Calif.-based fabless chipmaker earned an adjusted $1.66 a share on sales of $11.54 billion in the June quarter. Analysts polled by FactSet had expected earnings of $1.62 a share on…