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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 209.12+0.7%3:59 PM EST
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To: Pravin Kamdar who wrote (18381)11/9/2000 2:58:07 PM
From: tejekRead Replies (1) of 275872
 
Pravin, this is one of the first press releases I have seen re the conference.

Advanced Micro Sees Higher 1st-Qtr Sales, 2001 Growth Over 22%


Sunnyvale, California, Nov. 9 (Bloomberg) -- Advanced Micro Devices Inc., Intel Corp.'s main rival in the personal-computer processor market, reiterated its fourth-quarter sales target and said first-quarter revenue growth will be in the ``high teens.''

Sales next year will rise faster than the projected chip industry growth rate of 22 percent, Chief Executive Jerry Sanders said at a meeting with analysts that was broadcast on the Internet.

``We see that as a floor for AMD's growth in 2001,'' he said.

Advanced Micro picked up sales as Intel couldn't make enough chips to meet demand earlier this year. Sunnyvale, California-based Advanced Micro has also beaten the No. 1 chipmaker over some technical hurdles by introducing faster processors first. Advanced Micro currently holds the crown for the speediest chips on the market.

The company's shares fell 50 cents to $21.19 in early afternoon trading and have added 46 percent this year. Intel stock fell $1.38 to $41.31 and is little changed in 2000.

Nov/09/2000 13:16 ET

For more stories from Bloomberg News, click here.

(C) Copyright 2000 Bloomberg L.P.
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