Boston, MA 10\/23\/2013 (wallstreetpr) –\u00a0It seems there is still no end to bad news for investors of Advanced Micro Devices, Inc. (NYSE:AMD). Shares of company are down almost 30 percent within last three trading sessions. Company on Thursday had come out with not-so-bad set of numbers. On the contrary, company showed improvement on multiple parameters. But it seems that market is ignoring these signs and considers these numbers as mere exceptions rather than a change in trend. Or then why else would shares of a company reporting solid numbers end the day with 14% fall?<\/p>\n
The company came out with revenue of $1.46 billion for third quarter. This was a 15% growth over previous Q3 and easily beat market estimates of $1.42 billion. Company also beat analyst estimates on bottomline front too and reported earnings of 4 cents per share. This was almost 100% above street expectation of 2 cents. And if that was not good enough, company has decided to raise its fourth quarter guidance for revenues by 5%.<\/p>\n
Goldman Sachs and Merill Lynch have come out with Sell and Neutral Ratings for shares of the company. Citigroup and Credit Suisse have also reiterated their existing Sell rating for the stock. But with company\u2019s result turning green after a gap of many quarters and availability of cash and equivalents to the tune of $1.2 billion, the company with current market capitalization of $2.2 billion seems like a bargain. This means that entire business of the company is available at just a billion dollars, and this is way too cheap by any standards. But in stock markets, one cannot be sure of anything. So is the case of AMD. Company\u2019s decision of reducing its reliance on PCs and tablets seems to be a wise one and good for long term. But it is also to be seen as to how much of this loss of revenue growth from PCs, etc can be transferred to mobile device processor sales. So, it may be a good time to look at this stock for a long term perspective.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/23\/2013 (wallstreetpr) –\u00a0It seems there is still no end to bad news for investors of Advanced Micro Devices, Inc. (NYSE:AMD). Shares of company […]<\/p>\n","protected":false},"author":32,"featured_media":10962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[2041,3331,420,595],"stock_ticker":[],"class_list":["post-10961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-advanced-micro-devices-inc-nyseamd","tag-advanced-micro-devices-inc","tag-amd","tag-nyseamd","entry"],"acf":[],"yoast_head":"\n