Article Abstract:
Advanced Micro Devices Inc. expects to post a first-quarter operating loss because of earlier than expected price cuts by Intel Corp. The price war began in early January when Intel lowered prices for its Celeron microprocessor in response to AMD's 1998 market share lead in chips for the sub-$1,000 personal computer retail market. Intel, with faster and cheaper chips, is attempting to recapture the market in low-cost computing as well as make room for its 450- and 500-megahertz Pentium III microprocessors due out in late February. High technology sector market concerns and negative comments from analysts caused AMD's shares to drop by $2.00 to $18.9375. Intel's stock fell $8.5625 to $130.125 as the Nasdaq Composite Index dropped 83.34 to 2410.07.
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Article Abstract:
Advanced Micro Devices (AMD) posts its third consecutive loss, reporting a net loss of $43 million (55 cents a share) for the 4th qtr. In the same period a year earlier, AMD earned $11.8 million (11 cents a share). Revenue fell 6.8 percent, to $265.9 million, from $285.3 million. AMD's loss reflects both a chip-industry slowdown and unprofitable product lines. Analysts say the loss was expected. They think AMD will do better in 1991. For 1990, AMD reports a net loss of $53.6 million (78 cents a share), which compares with a $46.1 million profit (44 cents a share) in 1989.
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Article Abstract:
Advanced Micro Devices Inc. posted huge operating losses for the second quarter. That, plus the announcement of the resignation of Atiq Raza, their second highest executive, who was to replace W.J. Sanders, III upon his retirement, proved to be a massive blow to the company. The sudden departure of Mr. Raza caused speculation of an internal power struggle. Net income was $79.9 million with a net loss of $162 million.
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