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Thursday, July 20, 2006

AMD Down After Earnings, Intel Up

Advanced Micro Devices (AMD) closed up almost 1% at $21.65 ahead of earnings, but the shares are down over 5% at $20.50 after reporting earnings. EPS was $0.18 vs $0.17 estimate and Revenues were $1.22 billion, which was in-line after it had guided lower. AMD also gave a bullish outlook for the third quarter by saying that demand for its chips would be seasonally strong in the second half of the year, with third-quarter sales growing sequentially. AMD also said margins fell from the previous quarter. The war with Intel is hurting it, no matter how you cut it. Intel closed down 7% at $17.10 today, but is trading up over 1% at $17.30. Let the games continue.

Jon C. Ogg
July 20, 2006

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