The estimate is only 61 cents? I know demand may be down and prices are much lower, but thats a lot lower than the last two or three quarters. Was the estimate higher before Intel's announcement? Cause AMD is supposed to be doing much better in Europe while Intel suffers. Me thinks 81 cents a share
AMD is going to smoke the concensus tomorrow. Of course, it won't make any difference, it will still probably go down and touch 20. That's the way the market is right now. Micron beat its earnings handily too, and promptly got taken out back and shot. No matter what AMD announces tomorrow, it's not going to be a moonshot for the stock price. AMD should get some more (grudging) respect from the street tomorrow though, which should help it once the market does make its turn.
chipmaker Advanced Micro Devices (AMD: news, msgs) is set to report its third-quarter results Wednesday. The First Call consensus prediction calls for the company to earn 62 cents a share, vs. a loss of 36 cents per share a year earlier. Rival Intel will release its results on Oct. 17
I'm guessing they will hit .69/share. As someone else has pointed out they have done extremely well in Europe, and with high end shortages from Intel they have been unloading a good portion of their high end/high dollar chips.
Just a question for some of you financial advisors out there . Why is AMD stock sitting at 22-23? It has a PEG of .4 for heaven's sake, and a forward P/E of 9! What am I missing that's driving the price so low?
Friend bought in at 20 before the split this year.
Another friend bought a penny stock (well, 19 pennies) that jumped up to 20 bucks in a matter of weeks. He had something like $10,000 in it! Rich mofo. He bought a new house by shorting stocks about two months ago. He knows the market I guess you could say.
perry, I got in at less than 20 last year, and sold at around 87 before the split . I bought back in at around 23/share. I've made a good chunk of change in the past 12-14 months, but I'm glad I pulled most of my money out a few months ago. I don't have the time to properly short stocks, and the erratic market isn't for those that only get a chance to look at their portfolio before and after trading hours. I'm back in, but the lunacy of the market has had me eating h2 blockers like candy . I've taken to the attitude that I'm only going to look at my stocks (mostly stable medium growth companies now, other than a fairly large holding in AMD) on weekends, where my twitchy mouse finger won't do anything I'll later regret .
Fiddy, it looks like they hit ~840M in sales not counting one-timers (the sale of Legerity). That's down more than 300M from the previous quarter. Still, 220M in net gain isn't bad at all for the quarter (once again not counting one-timers) considering how the rest of the sector is fairing.
Another positive factor is that they had a larger net gain than the previous quarter despite the fact that their sales were down nearly 25%. That shows that their ASP is doing spectacular and that they are selling a large number of their high dollar/high profit parts.