View Single Post
  #4 (permalink)  
Old February 19, 2007, 07:25 AM
Babrbarossa's Avatar
Babrbarossa Babrbarossa is offline
Hall Of Fame
Join Date: Dec 2006
Location: New Brunswick
Posts: 3,727

My System Specs


Here's a commentary on stock prospects for AMD from the Associated Press
The author recommends staying away for now.

"NEW YORK (AP) - Chip maker Advanced Micro Devices Inc. may need to raise cash in about six months, according to a Wall Street ****yst.
American Technology Research ****yst Doug Freedman, who has a "Sell" rating on the stock, said he has increasing concerns about the company's cash flow.
The ****yst noted there are rumors in the market about interest by private equity firms in AMD.

"When we polled clients as to the reason behind (the strength in the stock in Wednesday's trading) we were told that private equity rumors were circulating," Freedman wrote in a note to investors. While we do not doubt that private equity is sitting on cash ... we have a hard time seeing how it would get involved in AMD at the present valuation."
Shares of AMD closed up 2.4 percent at $14.95 in Wednesday's trading.
Freedman also speculated that Michael Dell's recent return to Dell Inc. as chief executive may not bode well for AMD, since he has a strong relationship with chip maker Intel Corp.
"We advise investors to limit their exposure to AMD shares until cash is raised and new product benchmarks are made available," Freedman added.
An AMD spokesperson declined comment.
The company recorded a loss of $166 million for 2006 due to charges related to the acquisition of graphics chip maker ATI Technologies AMD ended the year with $1.54 billion in cash and cash equivalents, down from $1.8 billion at the end of 2005.
Over the last 52 weeks, the stock is down roughly 63 percent, reflecting concerns about an ongoing price was with larger rival Intel.
Shares of AMD were down 11 cents at $14.84 in afternoon trading on the New York Stock Exchange.
2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed."
Reply With Quote