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Intel's (INTC) Little Step-Brother...Mr. Can't Get Right (AMD)

July 10, 2012 10:30 AM EDT Send to a Friend
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Price: $3.85 -1.53%

Rating Summary:
    9 Buy, 11 Hold, 10 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 15 | New: 67
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We've seen this story before. AMD (NYSE: AMD) warns, guides lower or reports weaker-than expected quarterly financials. Intel's (Nasdaq: INTC) little step-brother...Undoubtedly, this isn't a Research In Motion (Nasdaq: RIMM) story, but AMD just can't get it right. The five-year chart looks like a pretty exciting roller coaster.

Last night, after the close, AMD said it's second quarter revenues were expected to decrease by 11% sequentially (vs. -3% to +3%). Business conditions are to blame, especially in China and Europe. The bright spot - Margin guidance was in-line, and operating expenses projected below previous forecasts. Q2 earnings are expected to be released on July 19.

Several brokerage firms made comments this morning, although, Sterne Agee downgraded AMD four days before the pre-announcement. Jefferies maintained a 'Buy' rating, but slashed estimates, Deutsche Bank and Nomura remain at 'Hold/Neutral', but both cut estimates. Canaccord Genuity and Williams Financial are staying at a 'Buy' and Goldman Sachs is staying with a 'Sell'.

To see details from each analyst, just click the firm's name.

Currently, shares of AMD are trading down $0.40 (-7.15%) to $5.22. Intel is currently down, but less than 1%.




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