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Consumer Electronics

Advanced Micro Devices: Even Cheaper Processors Off (AMD, INTC, NVDA)

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By Douglas A. McIntyre Published
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It seems that the lower demand for PC’s and the demand that is there heading into the under-$500.00 PC market is taking its toll on everyone.  We have already seen a sharp warning from Intel (NASDAQ: INTC), and this morning we just got the ball dropped by Advanced Micro Devices (NYSE: AMD).

AMD is now saying that weakness across all parts of the business aregoing to cause a sequential decline from Q3-2008 revenues of $1.585billion by a sharp 25%.  This does not include process technologylicense revenues, but if we generalize the statement we’d get animplied revenue number of around $1.188 billion.  Thomson Reuters hasestimates of $1.54 billion.

The company is blaming weaker-than-expected demand, particularly in the consumer market.  AMDcompetes against Intel (NASDAQ: INTC) on the processor front and Intelshares are down almost 2% at $13.40 pre-market.  NVIDIA (NASDAQ: NVDA)is its top competitor on the graphics chipsets and NVIDIA shares aredown almost 4% at $7.30 pre-market.

AMD shares are taking it far worse this morning.  Shares are down 9% at $2.00 pre-market on active volume.

Jon C. Ogg
December 4, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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