AMD Tumbles After Hours on First-Quarter Warning Bell.
Kinda like the warning on a pack of cigarettes if you ask me. Like we needed to be warned?
The company also said it would cut 300 jobs over the next two quarters, which will result in a charge against earnings in the first quarter, ending March 28, and in the next quarter. The job cuts, which represent about 2.2 percent of AMD's total workforce of 13,800, are the first job cuts at AMD in about three years, a spokesman said.
Cutting 300 jobs out of 13,800... Ah, is it April 1st already? Are they like, trying to make the stock go down? Maybe it's a typo and they really meant 3000 jobs. Nope, just checked, ah, 300, yep, wow.
'Normally they shoot themselves in the foot, maybe this time they shot themselves in the head,' said Ashok Kumar, a Piper Jaffray analyst.
Analyst? Try brilliant observationalist!!! |
