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.

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

To: Pravin Kamdar who wrote (46161)	1/15/1999 11:19:00 AM
From: Xpiderman	Respond to of 1583541

After dropped a whopping $5 1/4 or near 20% value yeaterday, Chip maker Advanced Micro Devices flopped another $1 or 4.8% on heave volume. Disappointed indeed, at least six brokerage houses downgraded the company, although Needham & Co. bucked the trend and issued an upgrade to "strong buy" from "hold." DLJ downgrades chip maker from "Buy" to "Hold" following last night's less than spectacular earnings report. CS First Boston maintains "Hold" rating on chip maker after reporting disappointing Q4 results; earnings driven by lower average selling prices and losses in non-CPU businesses; outlook grim entering the seasonally slower season; average selling price recovery an uphill battle until K7 chip enters the scene in the second half of 1999; lowers FY99 EPS estimate from $0.65 to $0.20 a share and establishes a FY00 EPS forecast of $0.40a share. BT Alex. Brown downgrades AMD two notch from "Strong buy" to "Hold". Nationsbanc Montgomery cuts Advanced Micro from "Buy" to "Hold" . Piper Jaffray Reiterates Advanced Micro as "Hold". Sutro & Co downgrades AMD from "Accumulate" to "Hold" AMD said it shipped "hundreds of thousands" of its K-6-2s in the quarter, a manufacturing glitch apparently kept the firm from taking full advantage of this once in many year very strong market demand. Although the stock markets rebound strongly this morning, AMD investors sold the their shares to express anger and lack of confident to MAD management. "Encouraged by the strong holiday demand for PCs - particularly low-end products - and by bullish comments out of rival Intel, street had been busy upping earnings estimate over past month... Reality hit yesterday when company posted a nice year/year jump but missed the street number by a big margin due what else but a production glitch... How does that phrase go, "fool me once shame on you, fool me twice shame on me." Feeling shamed, street took stock out and shot it" said Tech Stock Analyst on Briefing.com.