Chips not down at AMD

Advanced Micro Devices, the little PC chipmaker that couldn't, then could, then couldn't, is struggling again. What has it tried repeatedly to do? To compete both successfully on product with its giant and potent competitor Intel and still make money.

It isn't easy. On Monday AMD announced that its first quarter numbers will be lower than it had thought. Doing penance, it also said it would chop 10% of its payroll. The stock - already hammered in the past year - dropped a tad in after-market trading to around $6.20.

But I believe Wall Street now underestimates AMD. Its market capitalization is a measly $3.8 billion. The biggest AMD news in the last couple years was its acquisition of graphics chipmaker ATI in mid-2006, now widely considered a bad move. Guess what it paid? $5.4 billion!

Read Full Article from CNNMoney.com

- Posted: 2008-04-08 08:53:56

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