Recent financial news from the big chip firms has been grim. But the bad news goes beyond worries about the global economic climate and the death of the PC. In the last five years, computing has gone from something done on a server or a PC, to all-day continuous computing on a variety of devices. And the chip giants from Intel to Qualcomm are feeling the repercussions from that giant shift.

Chip company AMD (s amd) said its sales would come in 10 percent lower in the third quarter compared with sales the previous quarter. The news, which was released on Thursday evening was a shocking decline from AMD’s previously announced expectations that third quarter sales would decline by 1 percent, plus or minus 3 percent, sequentially.

AMD blamed its troubles on the macroeconomic environment, which has hurt chip sales, and others are blaming it on yesterday’s reported decline in…

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