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AMD

Advanced Micro Devices, Inc.

5/23/2013, 2:55 PM ET

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Tuesday, May 21, 1:15 PM Microsoft (MSFT) unveils the Xbox One, a 3rd-gen console it pitches as "the ultimate all-in-one entertainment system. The device has a rectangular, set-top box-like shape, a slightly bigger controller. a revamped Xbox Live UI, improved app/game loading and switching times, and fresh voice/gesture controls. AMD is widely believed to provide an integrated CPU/GPU for the system. (live blog) (previous) 50 Comments [Tech, Breaking News]
Thursday, May 16, 12:51 PM Midday top 10 gainers: EGLE +46%. NBG +24%. SBSA +23%. DQ +22%. GNK +19%. AEGR +19%. GLBS +17%. SINO +17%. PRGN +16%. LWAY +16%.
Midday top 10 losers: NCT -54%. SNFCA -22%. ONTY -21%. INFI -19%. CNIT -15%. CYCC -14%. PTSX -14%. AMD -13%. BDCO -11%. TRIT -11%. 2 Comments [On the Move]
Thursday, May 16, 9:34 AM AMD (AMD -12.9%) opens sharply lower on a downgrade to Sell from Goldman, which doesn't see the chipmaker's giant spring rally as justified. "As has been the case with many of the other rallies in AMD, which have all faded, ultimately, the numbers do not justify the move in the stock ... we expect continued disappointing results in the PC segment to mitigate the impact of increased revenue from gaming." Goldman upgraded AMD to Neutral last September, when shares were at $3.47. 5 Comments [Tech, On the Move, Quick Ideas]
Thursday, May 16, 9:14 AM Premarket gainers: RGDX +24%. EGLE +23%. EFUT +19%. TSLA +13%. CSCO +13%. SCTY +11%. DQ +9%. HALO +8%. DANG +7%. AV +7%. YRCW +8%. NBG +7%. KSS +7%. SPWR +6%.
Losers: NCT -53%. SNFCA -24%. AMD -10%. NQ -7%. CYCC -5%. Comment! [On the Move]
Monday, May 13, 3:57 PM AMD (AMD +5.8%) is continuing this spring's take-no-prisoners rally/short-squeeze - shares are now up 83% from their April 18 low. This morning, the chipmaker announced a reference design (powered by its Opteron 6300 server CPUs) for Facebook's modular Open Compute server platform. AMD claims servers based on its design can drastically lower ownership costs for a PC virtualization deployment. 4 Comments [Tech, On the Move]
Friday, May 10, 4:10 PM "Nvidia’s (NVDA +4.5%) gross margin upside in a humbling quarter for Tegra and an 'apocalyptic' PC environment was quite impressive," writes Raymond James following the FQ1 report. Judging by today's rally, many agree. RJ sees the margin strength as proof demand for high-end GPUs for gaming/computing/workstations "is likely more inelastic than thought." Others are worried about the Tegra unit, which is losing share ahead of the Tegra 4 (FQ2/FQ3) and 4i (FQ4/FQ1) launches. On the earnings call, CEO Jen-Hsun Huang admitted Tegra's gross margin is below Nvidia's total GM, but added margins for GRID and Tesla (also expected to grow fast in 2H) are above-average. AMD +2.3%. 1 Comment [Tech, On the Move, Earnings]
Sunday, May 5, 1:26 PM The GPUs integrated with mid-range and high-end versions of Intel's (INTC) upcoming Haswell CPUs could be a threat to AMD and Nvidia's (NVDA) discrete GPU sales, ZDNet points out. Intel claims the GPUs, codenamed Iris, will deliver a 2x-3x performance gain (depending on the CPU model) over the ones integrated with comparable Ivy Bridge CPUs. However, more power-efficient Haswell ultrabook chips will ship with HD 5000 GPUs (though Intel still promises performance gains here). Integrated GPUs (both from Intel and AMD) have been steadily taking share from discrete GPUs for years. (more on Haswell) 11 Comments [Tech]
Friday, May 3, 1:26 PM AMD (AMD +9.7%) just won't take a breather. Share are now up 42% on the week even though the chipmaker hasn't seen any major news and has been hit with a downgrade. Bernstein speculates enthusiasm about AMD's next-gen console design wins is responsible, but they've been well-known for some time. Is a major short-seller or two covering? Is an activist investor moving in? Regardless, shares are up 57% YTD in spite of a pretty ugly Q1 for PC sales. 7 Comments [Tech, On the Move]
Thursday, May 2, 11:33 AM It looks like AMD (AMD +1.9%) is made of teflon this week. A day after skyrocketing due to (very questionable) Intel buyout rumors, shares are up in spite of a downgrade to Neutral from Macquarie's Shawn Webster. While upbeat about AMD's PS4/Xbox 720 wins and considering forecasts for its core CPU/GPU business too bearish, he thinks shares are fully valued. given they trade "above the mid-point" of AMD's historical earnings and book value multiple ranges. The downgrade comes as archrival Intel names COO Brian Krzanich its next CEO. 3 Comments [Tech, On the Move]
Wednesday, May 1, 3:57 PM What's going on with AMD (AMD +14.4%)? The chipmaker's shares have taken off on volume that's 5x its daily average, even though no major news has hit the wires. Wells Fargo (Outperform) wrote this morning AMD has launched two new chips for its high-end FX desktop CPU line, and that its CPU pricing seems to be stabilizing, but it seems unlikely that's responsible for today's huge move. 16.9% of AMD's float was shorted as of April 15. Update: As SA commenters note, Intel buyout rumors appear to have played a role. Considering the antitrust issues, this rumor is even harder to swallow than the ones about Samsung and Qualcomm. 13 Comments [Tech, On the Move]
Wednesday, April 24, 2:49 PM The next Xbox will be unveiled at a May 21 event, Microsoft (MSFT +3.5%) all but states in an invite sent out today - The Verge reported as much earlier this month. The rumor mill suggests the console, expected to be called the Xbox 720, will have an 8-core AMD CPU (similar to the one in the PS4), a Blu-ray player, and a refreshed Kinect, and (in what could be particularly important, given Microsoft's living room ambitions) might also be accompanied by an inexpensive Xbox set-top focused on casual gaming and media consumption. 7 Comments [Tech]
Tuesday, April 23, 12:54 PM AMD (AMD +2.6%) updates its G-Series embedded processor line by launching an SoC that combines a Jaguar CPU core (found in AMD's next-gen console processors) with a Radeon 8000 GPU - AMD claims a major performance edge over Intel's (INTC) Atom CPUs (naturally, Intel isn't standing pat), and says GE will use the SoC in new rugged embedded systems Also, an ARM-based embedded CPU is promised. AMD has promised 20% of its revenue will come from embedded/semi-custom solutions (includes console chips and SeaMicro, among other things), and has set a long-term goal of getting 40%-50%. Given PC industry conditions and Intel's aggressive spending, there's a logic to that strategy. 2 Comments [Tech]
Friday, April 19, 2:22 PM AMD (AMD -3.8%) has re-hired Raja Koduri, who until recently was Apple's director of graphics architecture, CNET reports. It might not be a coincidence the report comes 8 months after AMD hired Apple mobile processor chief Jim Keller. AMD is selling off after delivering a Q1 beat and above-consensus Q2 guidance. On the earnings call, AMD claimed to have regained desktop GPU share, and that server CPU revenue rose Q/Q due to higher ASPs. There were some pointed questions about gross margin, particularly whether it can return to past levels given PC weakness and a mix shift towards embedded products. Nvidia (NVDA -0.3%) is underperforming. 2 Comments [Tech, Earnings, On the Move]
Thursday, April 18, 5:53 PM After-hours top gainers, as of 5:15 p.m.: RH +8%. IMRS +6%. BGS +5%. CPHD +5%. PRLB +5%.
After-hours top losers: AIRM -15%. CIE -6%. LSCC -5%. AMD -5%. TAHO -4%. Comment! [On the Move]
Thursday, April 18, 5:34 PM More on AMD: Q2 guidance is for -1% to +5% Q/Q revenue growth, above a consensus of -2%. Q1 CPU division sales -9% Q/Q and -38% Y/Y (-37% in Q4), mostly due to lower units (weak PC sales, share loss). CPU ASPs rose Q/Q and fell Y/Y. GPU division +3% Q/Q and -12% Y/Y (-15% in Q4); ASPs up Q/Q and down Y/Y. Gross margin was 41%, up from Q4's 39%, aided by inventory benefit. Cash balance at $1.2B, boosted by Austin campus sale. R&D spend -15% Y/Y, MG&A -22% (job cuts). Inventory rose by $51M to $613M, another increase seen for Q2. AMD -3.2% AH. (PR) (CFO comments) (slides) Comment! [Tech, Earnings, On the Move]
Thursday, April 18, 4:16 PM Advanced Micro (AMD): Q1 EPS of -$0.13 beats by $0.04. Revenue of $1.09B (-31% Y/Y) beats by $0.04B. (PR) 5 Comments [Earnings, Breaking News, Tech]

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