Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Steve Lee who started this subject	6/19/2002 2:12:06 PM
From: Softechie	Read Replies (1) of 99280

Advanced Micro (AMD) 9.05 -1.25: Last night, announced Q2 revenues would be significantly below expectations, AMD has dropped 12% on news. UBS Warburg downgraded to HOLD from Buy and lowered price target to $10 from $21, as firm sees no medium-term positive catalysts for stock to move substantially higher; believes next potential growth opportunity with have to come from Hammer products, which will ship in 4Q02. Salomon Smth Brny downgraded to NEUTRAL from Outperform and lowered price target to $10 from $17. On positive side, Needham & Co reiterated Strong Buy and lowered price target to $18 from $20, believing upside potential significantly exceeds downside risk at current price levels.

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