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Advanced Micro Devices Inc.: Jefferies & Co. equity analyst Adam Benjamin maintained an underperform rating on shares of Advanced Micro Devices Inc. (AMD) on Apr. 16. He raised a price target on the second-largest maker of microprocessors to $7 from $6.

On Apr. 15, AMD reported first-quarter sales that beat analysts' predictions, adding to evidence that personal-computer demand is increasing. Revenue rose 34% to $1.57 billion, AMD said in a statement. Analysts estimated $1.54 billion on average, according to a Bloomberg survey. Net income was $257 million, after a loss a year earlier, helped by an accounting change.

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- Posted: 2010-04-16 10:58:39

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