Sunnyvale-based AMD did not disclose details of the revenue shortfall in a brief statement before financial markets opened Monday. CEO Hector Ruiz was expected to update the first-quarter guidance during a presentation later in the day at the Morgan Stanley Technology Conference in San Francisco.People who bought AMD stock a year ago must be pulling their hair out now. A year ago in March 2006 AMD's stock traded for nearly $40 a share, today this has dropped below $14.
Analysts surveyed by Thomson Financial before the warning were expecting, on average, AMD to lose 25 cents per share on revenue of $1.66 billion for the first quarter.
AMD won't meet Q1 outlook - stock drops again
Posted on Monday, Mar 05 2007 @ 16:41 CET by Thomas De Maesschalck