AMD Gets Eaten Alive
Sorry Advanced Micro Devices (AMD) shareholders, you just lost even more money. AMD hit a new 52-week low this morning of $2.86 a share -- ouch.
While the wolves tear apart AMD, its an opportunity for us vultures waiting to see what they leave of the company. The Masters have been waiting for AMD to tank to a new low, today is that gift. AMD shares are down 9% today and the chart is looking brutal. Since Spring AMD shares have lost 65% of their value, an all out blood bath for shareholders.
Today AMD is down after the company said they expect Q3 revenue to suck. AMD expects Q3 revenue to be at least 10% lower than compared to last year's Q3. The demand for AMD products is not there and it shows in the stock's performance. AMD had to write down its inventory by $100M thanks to its low demand. They are having to slash prices and its not doing much to improve the bottom line.
AMD will report is Q3 results next Thursday (Oct 18th). Until then, expect choppy trading.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Caught On Video: Mass Panic Strikes Bellagio As Robbers In Pig Masks Open Fire Inside Rolex Store | ZeroHedge
- Chris Martenson: "Why This Market Needs To Crash (And Likely Will)" | ZeroHedge
- Goldman: "The Boost From Lower Taxes Will Now Be Smaller, Occur Later Than Expected" | ZeroHedge
- 16 Years Of European Terrorism In One Chart | ZeroHedge
- FBI Director Comey Unexpectedly Shows Up At The White House | ZeroHedge
- Don Coxe on Brewing US Pension Crisis, Stimulus vs. Rising Rates | Financial Sense
- McCain: "The New World Order Is Under Enormous Strain" | ZeroHedge
The most relevant financial news and articles from the Internets
- Here's how you're told by the President you've been awarded... | Business Insider
- I tested out the newest version of Kim Kardashian's... | Business Insider
- Russia released some head-scratching recommendations for how its citizens... | Business Insider
- This is the first US delivery from Amazon’s drone publicly caught... | Business Insider
- A top Wall Street banker quit his job to fight for civil... | Business Insider
- What happens to your brain when you get a like on Instagram | Business Insider
- Snapchat's custom-emoji creator is now the fastest-growing app... | Business Insider