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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: dhellman who wrote (20756)	11/27/2000 7:19:03 PM
From: dhellman	Respond to of 275872

+Advanced Micro Dn 10% After Robertson Stephens Note >AMD 11/27 14:39 (DJ) Story 3915 (ALTR, AMD, BRCM, CY, INTC, XLNX) Story 3919 *DJ Advanced Micro Knows No Reason For Share Decline >AMD Story 4339 =DJ Advanced Micro Dn -2: Analyst Sees AMD, Intel Price Cuts By Donna Fuscaldo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--News that spot prices for dynamic random access memory, or DRAM, increased a bit sent shares of semiconductor stocks higher Friday. But the gains, for some, were short-lived. Take Advanced Micro Devices Inc. (AMD), which climbed 6% Friday. The stock was recently off 10% after Robertson Stephens & Co. analyst Eric Rothdeutsch said the chip maker and its rival, Intel Corp. (INTC), would continue to cut prices. Blaming weak PC demand, Rothdeutsch said in a research note that he expects both Intel and AMD to accelerate price cuts on processors in the coming weeks. But AMD spokesman John Greenagel said the Sunnyvale, Calif., chip maker has not announced any new price cuts since October and that the comments from Robertson Stephens are speculation. Greenagel added that he is not aware of any reason why the stock would be off Monday. In his research note Rothdeutsch said post-Thanksgiving checks in Asia indicate that PC motherboard demand continues to be weak and that DRAM pricing appears to be stabilized at $3.50 for 64 megabytes and $6.85 for 128 megabytes. The analyst also noted that checks with PC chipset manufacturers in Taiwan show weak motherboard demand and large chipset inventories in the channel, which is hurting order rates and causing chipset demand to decline monthly since September. Shares of AMD were recently trading down 8.7%, or $1.81, at $19, on volume of 7.8 million shares. Average daily volume is 8.1 million shares. Story 4370 =DJ Advanced Micro Dn-3: Off With Rest Of Chip Grp -Analysts Jack Geraghty, an analyst at Gerard Klauer Mattison, said AMD is falling with the rest of the semiconductor stocks on the Philadelphia Semiconductor Index, which was recently off 5.6%. The index's decline Monday was due in part to a series of downgrades and price cuts. Lehman Brothers Inc. analyst Daniel Niles cuts his estimates on communication chip makers Xilinx Inc. (XLNX) and Altera Corp. (ALTR), while Salomon Smith Barney analyst Clark Westmont reduced his price target on Broadcom Corp. (BRCM) and Prudential Securities Inc. analyst John Barton cut his rating on Cypress Semiconductor Corp. (CY). In an interview with Dow Jones Newswires, Lehman's Niles said his EPS cuts are the main catalyst for Monday's decline. He also said Intel's release of its Pentium 4 chip running at 1.4- and 1.5-gigahertz speeds gives the chip giant the performance advantage over AMD, which used to hold the No. 1 spot in terms of performance. An Intel official could not immediately be reached for comment. -Donna Fuscaldo, Dow Jones Newswires, 201-938-5253; donna.fuscaldo@dowjones.com (END) DOW JONES NEWS 11-27-00 03:58 PM