Other Thoughts: Executive Changes
AMD re-hired an Apple director of graphics architecture, while Nvidia’s Tegra division boss, Phil Carmack left. In its quarterly report, the company forecast Tegra sales would be flat, despite sales in mobile devices still rising. This suggests that NVIDIA is facing stiff competition from Qualcomm (QCOM). To enhance shareholder value, NVIDIA said it would return a billion dollars to its shareholders, with $800 million from buybacks.
Intel named a successor to Paul Otellini. The company decided to promote internally, naming its current COO as the next CEO.Conclusion Speculators who bought AMD might take some profits if share pull back, but the transition story for AMD is intact. The market is forecasting a clearer outlook for AMD as the chip maker expands its business to areas outside of the desktop market.
Written by Chris Lau
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV