Advanced Micro Devices (AMD) is reportedly shopping its 58-acre Texas camp in hopes of raising $150 million to$200 million. The Sunnyvale chip designer's financial struggles have been well documented up to this point, leaving some to wonder if the end might be nigh for a semiconductor company that's been around for over four decades. Certainly the end already arrived for the thousands that have been laid off from AMD in the past year.
Shares of Advanced Micro Devices (AMD) have fallen below $2, dropping more than 3 percent to $1.86 by the end of the trading day on Thursday. That's not only a 52-week low for the Sunnyvale chip designer, but it's the first time the company's stock has dipped below $2 since 2008. A recent report indicating AMD had hired J.P. Morgan Chase to "explore options," including an outright sale of the company, sparked the downward spiral, and though AMD has denied claims it's shopping itself around, investors are understandably skittish.
Shares of chip designer Advanced Micro Devices (AMD) surged by more than 18 percent following a report that it's hired J.P. Morgan Chase to "explore options," including an outright sale of the company. Before anyone panics, no sale is imminent, and it appears AMD would much rather offload some of its patents to generate some much needed cash, but at the same time, all options are on the table.
PC gaming is alive and well, as evidenced by strong Kepler GPU sales that helped steer Nvidia towards record revenue of $1.20 billion for the third quarter of its fiscal 2013 period ended October 28, 2012. That's a gain of 15.3 percent compared to the previous quarter, and a 12.9 percent improvement versus last year, Nvidia said, adding that its energy efficient Kepler GPU architecture continued to make excellent headway in the market place.
Different strokes for different folks. What do we mean by that? While Gabe Newell and the rest of the gang at Valve can't get enough Linux in their diet, the financial weight watchers at Advanced Micro Devices (AMD) just got through liposuctioning a portion of its Linux kernel development team by closing its Dresden, Germany-based Operating System Research Center (OSRC).
Much to the chagrin of Acer, Microsoft is making a run at hardware with its Surface RT and Surface Pro tablets, and those might be only the first of many more products to come. Microsoft's dancing a fine line with hardware in trying to set the bar for Windows 8 devices without completely ticking off its OEM partners, but it's also taken a big step towards an Apple-like business model. If Microsoft decides to go further, a major acquisition starts to make sense, and two names that have been thrown out there are Nokia and Nvidia.
Lest there be any doubt whatsoever that Microsoft has a lot riding on Windows 8, the Redmond outfit's financial report for its first fiscal quarter of 2013 (which ended September 30, 2012) contained more thorns than roses. For example, the company's quarterly earnings dropped 22 percent sequentially to $5.47 billion, as slumping PC sales continue to adversely affect tech firms across the board. Revenue also declined, dropping 8 percent to $16 billion, down from $17.37 billion one year prior.
Intel, the world's largest semiconductor player, is susceptible to market conditions just like every other company, and right now PC sales are in a slump. Serving up chips to the PC market is Intel's bread and butter, so it strives or struggles at a similar clip, though it's all relative. What do we mean? Well, Intel said it generated $13.5 billion revenue during the third quarter, which is an obscene amount of money, and even a little better than analysts were expecting, but only after the chip maker lowered its Q3 sales forecast.
Chip designer Advanced Micro Devices (AMD) on late Thursday warned investors that its third-quarter revenue will probably dip 10 percent from the previous quarter because of sluggish demand and a consumer preference towards tablet PCs. After hearing the news, AMD's stock took a beating, dropping below $3 per share to the lowest it's been in three years. The stock dipped even further today and is currently trading at around $2.86.
It's difficult to get a pulse on what's going on at OCZ Technology, though the fact that it still has one is at least a little bit encouraging. What investors didn't find encouraging is OCZ's warning that its customer incentive program will result in a "significant" quarterly loss and "materially lower" revenue than what was previously forecast. On the bright side, there's a new chief in town, and he doesn't seem much into sugar coating the situation.