AMD: Dead cat bounce |
| Published: August 8, 2007, 10:40 am |
| Tags: 24 7 wall street, 24 7wallstreet, aapl, amd, bsc, intc |
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Filed under: Earnings reports, SEC filings, Industry, Apple Inc (AAPL), Intel (INTC), Advanced Micro Dev (AMD), Bear Stearns Cos (BSC)Advanced Micro Devices, Inc. (NYSE: AMD) has taken a terrible drubbing lately. It hit a new 52-week low of $12.58 two days ago. But, that was then and this is now. One of the factors that tanked the shares was the idea that cheap money was gone forever. AMD has a lot of debt and is burning cash. As BusinessWeek wrote recently, Wall Street's concern is AMD's "ability to generate cash and finance its long-term debt." But, the Fed didn't do anything to rescue the economy and even shares in Bear Stearns (NYSE:BSC) are on their way back up. The lending tree has not fallen. AMD's shares are up over 7% today to $13.54. That is still well short of the 52-week high of $23, and is off well over 30% this year. As long as the market perceives that it is in a price war with larger rival Intel Corp. (NASDAQ: INTC) there will be doubts about whether it can recover it [ Full article ] |
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