AMD Shares Hit Five-Year Low

(Editor's note: Come see Alexei Oreskovic at the Money Show in San Francisco. Alexei will be speaking to attendees on Friday, Aug. 8 at 6 p.m. His seminar is titled: "Chip Shots: How to Play With Volatile Semiconductor Stocks.")

Advanced Micro Devices(AMD Quote) shares have fallen to their lowest level in more than five years.

In midday trading Thursday, the chipmaker's stock slid 3% to $4.90, the first time it has been below the $5 level - adjusted for splits - since February 2003.

The slide comes a week before AMD is due to report earnings, and caps several days of declines amid fears of softening demand for the PCs that use AMD microprocessors. ...