AMD Stocks Hit Rock Bottom, Dive to 16-year Low
AMD Stocks Hit Rock Bottom, Dive to 16-year Low
Posted 07/15/2008 at 9:05pm
| by Pulkit Chandna
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Although ATI has been the lone source of promising news for it in recent times, AMD is ruing its 2006 acquisition of ATI. The chip manufacturer heavily overpaid for the ATI acquisition and now values the graphics chip maker at only $2.9 billion – it bought ATI for $5.4 billion.
Its announcement that it will take a $948 million charge drove its stock price to a 16-year low of $4.84 on Friday. It will officially report its Q2 loss of 51 cents per share on 17th July. It will be its 7th consecutive quarterly loss. Most analysts paint a dreary picture of AMD’s future but a few like CRT Capital Group’s Ashok Kumar remain sanguine about the company’s prospects. AMD will have to quickly turn a corner if it wants to survive.
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Syntax
July 15, 2008 at 10:02pm
My understanding of the AMD card's use in the dream machine was that it was only because skulltrail doesn't support SLI. I must say that I have seen a couple of the new batch at play, and they are exrodinary performers. If AMD can get a decent (desktop?) CPU product out this year, now would be a perfect time to buy.
Haipyng
July 16, 2008 at 4:36am
Skulltrail is the only Intel made board that does have SLI support. We'll have to wait and see why the lab boys picked the 4870X2 for the videocard in the Dream Machine, unless we can beg Murph for a teaser on that here.
hackman2007
July 15, 2008 at 9:55pm
Must come up.
Seriously though, all the stocks are down below what they should be. In case anyone hasn't realized, we are borderline recession, so no big deal.
I expect AMD/ATI to pick it up after this recession, or whatever it is, is over.
But now is the time to buy the stock.
Strongbad536
July 15, 2008 at 9:12pm
Well this could be the best time to buy, especially with ATI on the rise. Plus im sure tons of people will buy from them now that they used 4870X2s in the Dream Machine.
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