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

To: Petz who wrote (29380)	3/4/1998 1:37:00 AM
From: Brian Hutcheson	Respond to of 1572919

Petz , re. AMD recent price action Don't forget AMD's seasonal price action . Over the last 10+ yrs with few exceptions e.g. 1995/1996 , the stock has peaked in march-may period. April has been the month that it peaks most consistently . So my thoughts are that the price movement does not necessarily mean they have achieved good yields . There is a reason , I believe for the consistent seasonal price fluctuation of AMD's stock . According to BW , AMD has a larger base of institutional investors than Intel . Every year there is re-investment by these funds at the beginning of the year followed by tax loss selling at most year ends . So re-investment is done on the basis of the complete years potential earnings . BTW the reason for 1995/1996 not following this seasonal pattern becomes evident when you examine charts of semiconductor and semiconductor equipment cos , they nearly all had a similar pattern which was the result of the 1995 tech stock downturn . Brian