Advanced Micro Devices: Even Cheaper Processors Off (AMD, INTC, NVDA)

Consumer Electronics

Published: December 4, 2008 9:29 am

It seems that the lower demand for PC’s and the demand that is there heading into the under-$500.00 PC market is taking its toll on everyone. We have already seen a sharp warning from Intel (NASDAQ: INTC), and this morning we just got the ball dropped by Advanced Micro Devices (NYSE: AMD).

AMD is now saying that weakness across all parts of the business aregoing to cause a sequential decline from Q3-2008 revenues of $1.585billion by a sharp 25%. This does not include process technologylicense revenues, but if we generalize the statement we’d get animplied revenue number of around $1.188 billion. Thomson Reuters hasestimates of $1.54 billion.

The company is blaming weaker-than-expected demand, particularly in the consumer market. AMDcompetes against Intel (NASDAQ: INTC) on the processor front and Intelshares are down almost 2% at $13.40 pre-market. NVIDIA (NASDAQ: NVDA)is its top competitor on the graphics chipsets and NVIDIA shares aredown almost 4% at $7.30 pre-market.

AMD shares are taking it far worse this morning. Shares are down 9% at $2.00 pre-market on active volume.

Jon C. Ogg
December 4, 2008

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