Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (24277)	12/11/2000 11:15:15 PM
From: Dealer	Respond to of 65232

AMD--AMD Affected by Poor PC Sales SUNNYVALE, Calif. (AP) - Chip maker Advanced Micro Devices joined rival Intel Corp. and other computer makers in warning Monday that a downturn in PC sales will lead to lower-than-expected earnings in the fourth quarter. Investors, bombarded in recent weeks by high-tech companies giving downward revisions, have so far shrugged off the news. Shares of AMD closed Monday up $1.94 at $17.31. In after-hours trading, shares of AMD fell to $17.25. Citing weak demand for consumer PCs in the United States, AMD said it expects to earn 50 cents to 60 cents per share. Analysts surveyed by First Call/Thomson Financial previously projected earnings would be 67 cents per share. The Sunnyvale, Calif.-based company plans to release its earnings report Jan. 16. ``While the slowdown in demand for PCs has been attributed variously to excess channel inventory, a slowing economy, or buyer apathy, we believe it is temporary,'' said AMD chief executive officer Jerry Sanders. ``The PC in wired and wireless forms will continue to be the hub of the digital universe.'' AMD posted its first calendar year in the black since 1995 when it reported in October third-quarter results that shattered quarterly sales records. Success with its Athlon microprocessors boosted third-quarter revenues to $1.2 billion. AMD officials said Monday they expect revenue for the fourth quarter will be flat or ``nominally higher'' than the third quarter. The company said it will ship 6.8 million chips in the fourth quarter - only slightly more than the last quarter and lower than the 8 to 9 million previously projected. -