AMD's new graphics card, the HD 4870 X2, is capable of 2.4 trillion operations per second, making it one of the fastest cards in the market. This is an important step for AMD to compete with Nvidia in the lucrative gaming market.
AMD continued to lose money with a $1.19B loss in the second quarter. AMD is facing stiff competition to Intel and had key product delays. CEO Hector Ruiz stepped down as COO Dirk Meyer is now taking over.
AMD reported another write down on its graphics acquisition ATI. The write down of $880M on friday added to the write down in January of $1.6B means that ATI is now worth about 44% less than what AMD acquired it for.
Nvidia's stock has plunged as it reported margins for the upcoming quarter will be lower than expected due to global end market weakness and product delays. AMD has come out with some surprisingly good graphics chips, and its low end offering matches Nvidia on performance while costing a lot less. However, AMD is still losing to intel when it comes to CPU's. Given the current US economy, the global weakness expected by Nvidia, and the constant competition, AMD just can't catch a break and the stock is sliding.
AMD will release a new line of Radeon graphics processing units that will be capable of 1 trillion calcuations per second, or 1 teraflop. It will use about 100 - 150 watts of power and is directed at the video game and enterprise markets.
Toshiba has come out with its new notebooks that are featuring AMD's brand new platform, known as Puma. In addition, the FTC has issued an official probe investigation whether Intel violated antitrust laws.
AMD announced that it will be changing its restructuring plan so as to more effectively cut costs.
Chip maker Advanced Micro Devices is trading at five-year low Friday on a slump in the market and a negative report on its performance by Wachovia Capital Markets.
The oversupply of computer chips is expected to lead to a price war between Advanced Micro Device (AMD) and Intel Corp., which will have a negative impact on the earnings of both companies. Morgan Stanley gave a rating of ‘underweight’ to AMD and advised the investors to sell the stock.
At an analyst day presentation on July 26th, AMD said its goal to break even in the fourth quarter (it lost 600MM in Q2) was "aspirational", implying low probability of success. In addition, investors had expected AMD to announce plans to outsource the manufacturing of its chips, an option popular with investors because AMD would no longer have to spend billions to build complex chip manufacturing plants. Instead, the company said it had no plan to outsource production.
AMD stock falls 7.6% with research showing Intel re-gaining market share in the first quarter.
Stock price falls 1.2% on first quarter revenue reports.
AMD's stock price rises 6.7% on talks about a possible LBO.
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