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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (65365)	7/14/1999 8:48:00 PM
From: Tae Spam Kim	Respond to of 1575980

AMD Getting Crushed - 8:35 PM EST - TK AMD reported a crushing second quarter loss of $162 million. Moreover Mr. Raza, AMD's COO and CTO, announced his resignation for "personal reasons." Revenue was down from the previous quarter by around $36 million as Intel's low-end Celeron line destroyed the K6. All of the company's hopes is on the Athlon K7, which will for a few months, at least, be the fastest x86 processor in the world. But with repeated execution and yield problem history, can AMD take advantage of its technical superiority? Wounded in a price war with rival Intel Corp., Advanced Micro Devices Inc. Wednesday reported a second-quarter loss of $162 million. In a surprise move, S. Atiq Raza; AMD's president, chief operating officer and chief technical officer; announced his resignation from the company for "personal reasons." The company's revenue took a beating as it cut prices to compete in the low-cost PC market with rival Intel. AMD's $595.1 million was off 6 percent from its first-quarter sales of $631.6 million. The average selling price of AMD's K6 chip was $67 in the second quarter, compared with $78 in the first quarter. "In the face of Intel's intensifying aggression in the consumer sector of the PC market… further gains in unit market share or revenue growth are unlikely," said W.J. Sanders, AMD chairman and chief executive officer. - CnnFn.com