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MOST READ: AMD's 'Nose Job' Falls Flat

Stock quotes in this article: AMD , INTC , NVDA , MOT , HPQ , DELL  

SAN FRANCISCO -- Thirty-nine years after its founding, Advanced Micro Devices(AMD Quote) has appointed its third chief executive.

But for many investors, the leadership change looks less like Chapter 3 in the AMD story, and more like Chapter 2.5.

Despite the new job titles, the on-the-ground reality within the Sunnyvale, Calif., chipmaker looks much as it did before the news was announced. ...

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