This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AMD Cuts Sales Guidance

Advanced Micro Devices (AMD - Get Report) slashed second-quarter revenue guidance, citing lower sales of processors for desktop computers and some mobile devices.

The chipmaker expects second-quarter revenue of $1.22 billion, up 52% from a year ago but down 9% from the first quarter. AMD had previously forecast second-quarter sales that were equal to or down slightly from the first quarter.

Analysts were expecting sales of $1.31 billion, according to Thomson First Call.

"Record AMD Opteron processor sales were driven by continued strong demand for single-, dual- and multi-socket configurations for servers and workstations," the company said. "Sales of entry-level and mainstream mobile and desktop processors were down."

AMD's sales shortfall comes during a quarter in which Intel (INTC - Get Report) cut prices on many of its microprocessor offerings in an effort to fend of its rival's market-share encroachment.

Shares of AMD closed Thursday at $23.83. In premarket trading Friday, the stock fell $1.12, or 4.7%, to $22.71.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMD $2.33 -2.10%
INTC $34.46 0.03%
AAPL $117.81 -0.19%
FB $105.45 0.04%
GOOG $750.26 0.28%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs