Advanced Micro Devices (NYSE:AMD) warned today that second-quarter sales would fall nearly 15% below its previous forecast. But if the SARS outbreak is truly to blame as the company says it is, there should be nothing but good times ahead for the world's No. 2 maker of microprocessors.

Robert Rivet, AMD's chief financial officer, attributes the shortfall to "the decline in personal computer and handset sell-through in China and other Asian markets, largely related to the SARS epidemic."

That information comes the same day the World Health Organization lifted its Beijing travel warning and USA Today is running an article titled, "Economy in post-SARS China taking off 'like a rocket'."

China's economic activity is so hot, in fact, that "some economists now worry crucial sectors are at risk of overheating." After growing nearly 10% in the first quarter, the world's most populous country is expected to post 7% first-half growth despite the SARS outbreak. USA Today points to a surge in exports; investments in factories, machinery and equipment; and electricity demand as indicators of China's strength.

Yes, SARS had a negative impact on many industries. But with such a rosy Asian growth forecast now, it would be reasonable to expect AMD and other companies that have blamed the outbreak for subpar performances -- Texas Instruments (NYSE:TXN), Nokia (NYSE:NOK), Motorola (NYSE:MOT), American Airlines (NYSE:AMR), United Airlines, and Novellus (NASDAQ:NVLS), just to name several -- to reverse course and predict better times ahead.

Just don't hold your breath.