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
- Is the US Workforce Nearing Full Recovery? | Financial Sense
- Military Spending In Perspective - Russia 'Wins' | ZeroHedge
- Chinese Stocks Give Up Trump Gains As $1.7 Trillion Source Of Funds Unwinds | ZeroHedge
- Baby Boomers Borrowed $100BN In Student Loans For Their Children And Now Defaults Are Soaring | ZeroHedge
- Alibaba's Jack Ma Sees "Decades Of Pain Ahead" Thanks To Internet Disruption | ZeroHedge
- Canadians Get "A Little Mad" As Refugees Continue To Flood In From U.S. | ZeroHedge
- Ivanka Trump Booed At Women's Conference In Berlin | ZeroHedge
The most relevant financial news and articles from the Internets
- A Harvard doctor just won $1 million for a project that could prevent the next deadly... | Business Insider
- A Democrat trolled Trump by naming an ultra-high tax plan 'The Donald J. Trump... | Business Insider
- OMNICHANNEL STRATEGY BUNDLE: Your guide to... | Business Insider
- Here's what 24 of the most popular brand names really mean | Business Insider
- Garry Kasparov: Putin skipped taking over... | Business Insider
- EINHORN ON TESLA: 'We expect these bubbles to pop' (TSLA) | Business Insider
- 6 little-known tricks that can help you upgrade your... | Business Insider