Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 203.14

-0.8%

Jan 9 9:30 AM EST

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To: Mani1 who started this subject	7/12/2002 12:15:45 PM
From: wanna_bmw	Read Replies (1) of 275872

Mirrorbit patent infringement? CSFB cuts AMD stock rating biz.yahoo.com NEW YORK, July 12 (Reuters) - Brokerage firm Credit Suisse First Boston said on Friday it cut its stock rating for chip maker Advanced Micro Devices Inc. (NYSE:AMD - News), saying the company's recently introduced memory device was unlikely to show profits any time soon. CSFB said it cut AMD to "hold" from "buy" and lowered its 12-month price target to $10 from $12. It said the company was experiencing problems with its MirrorBit memory device that could lead to long-term profitability issues and the loss of competitive edge. It also cited a patent infringement suit against AMD over MirrorBit, as something which could further hamper MirrorBit's profitability. As well as problems with its MirrorBit device, the brokerage firm said AMD was also losing money in its core microprocessor business. "AMD is now in a position it has not been in in a long time, with both business segments losing money," it said. Shares of AMD closed at $9.33 on the New York Stock Exchange Thursday. (Also) UBS Warburg cuts Intel price target biz.yahoo.com NEW YORK, July 12 (Reuters) - UBS Warburg said on Friday that it lowered its share price target for computer chip maker Intel Corp. (NasdaqNM:INTC - News) to $27 from $30 and cut earnings estimates, based on reduced expectations of profit margins. Analyst Thomas Thornhill said in a research note that he lowered earnings per share forecasts to 54 cents from 59 cents for 2002 and to 83 cents from 96 cents for 2003. "We trimmed our estimates on Intel based on a more moderate processor shipment outlook for the (second half of 2002) and 2003," Thornhill said. "We have also taken a more conservative position on the mix of Pentium 4 versus Celeron (chips) and consequently reduced our expectations regarding blended average prices and gross margins in (the second half of 2002)." Thornhill said he is expecting a gross margin of roughly 49 percent as the desktop computer processor product mix moves to Celeron products. UBS Warburg is maintaining a "buy" rating on the stock. "While we recognize the potential delay in the acceleration in PC demand, we maintain our Buy rating on Intel and continue to believe that the PC segment will likely be one of the end market segments to resume growth when IT spending recovers," Thornhill said. Intel shares closed at $18.25 on July 11. The stock has a 52-week range of $16.26 to $36.78. wbmw

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