Boston, MA 07\/25\/2013 (wallstreetpr) –\u00a0Advanced Micro Devices, Inc (NASDAQ:AMD) on July 18, 2013 reported its second quarter earnings, showings indications of a strong Q3 results. The stock price even hit 52 week high of $4.64 before results were declared. Soon after the declaration, the stocks started stumbling as stockholders expected better revenues from gaming consoles. The returns were down 18% from year-on-year basis, but gained 7% from Q1. The reported revenue was $1.16 billion. In spite of lower returns, the company is keeping high expectations from Q3 returns.<\/p>\n
AMD is using other than PC markets as its turnaround strategy. Intel Inc is lagging in the gaming consoles segment badly. AMD is bagging orders from Microsoft Corporation for upcoming Xbox and from Sony Corporation for its Playstation series, showing that AMD is continuously gaining pace in the console chips production with Intel to do a lot of catching up. AMD cannot beat Intel in high-end processor chips used in PC\u2019s. But with PC market lurching reporting fifth straight quarter decline, AMD is strategizing to make-up from the growing gaming sector.<\/p>\n
\u00a0Company\u2019s CEO, Roy Read said that they are targeting more than 20% of the sales from new markets and are well on track. According to Cody Acree, an analyst in Williams Financial Group, the company could be bringing $250 billion from sales of console chips. AMD is also progressing in notebook (including mobile segment), server and desktop shipments, with revenues gaining 12%.<\/p>\n
The only doubts in analysts\u2019 minds are weather the gaming console sector will perform as per expectations and the pace at which AMD will be able to keep up. Investors want more affirmations on the earnings from console chips for the stock to move higher, even with Q2 showing progress towards higher sales in Q3. AMD closed at $3.63 on July 24, 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 07\/25\/2013 (wallstreetpr) –\u00a0Advanced Micro Devices, Inc (NASDAQ:AMD) on July 18, 2013 reported its second quarter earnings, showings indications of a strong Q3 results. […]<\/p>\n","protected":false},"author":32,"featured_media":8844,"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":[2956,2906],"stock_ticker":[],"class_list":["post-8843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-advanced-micro-devices-inc-nasdaqamd","tag-nasdaqamd","entry"],"acf":[],"yoast_head":"\n