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

To: tejek who wrote (124458)	9/22/2000 10:19:20 AM
From: steve harris	Read Replies (1) \| Respond to of 1575517

Ted, this item will get you laughing. biz.yahoo.com RESEARCH ALERT-Chase H&Q cuts Advanced Micro Devices NEW YORK, Sept 22 (Reuters) - Chase Hambrecht & Quist analyst Sudeep Balain said on Friday he lowered his 12-month price target for Advanced Micro Devices Inc. (NYSE:AMD - news) to $35 a share from $75 a share and cut its rating to market perform from strong buy. -- shares of Advanced Micro Devices tumbled 10 percent in early trading, down $2-13/16 at $24-3/4 on the New York Stock Exchange. -- Balain said while the company's third quarter is ``intact,'' due to rival Intel Corp.'s (NasdaqNM:INTC - news) Thursday warning of a third-quarter revenue shortfall, Advanced Micro's stock ``will continue to be under pressure in the short term.'' -- Balain said, ``the company is already beginning to see an upswing in demand due to the Christmas holiday season. We are concerned, though, that if PC sales do slow down below our forecast of approximately 15-17 percent, there could be a meaningful inventory overhang in the system, where we believe Intel will try to gain more market share at AMD's expense.''