AMD (AMD): No One Is Buying What CEO Hector Ruiz Is Selling
“Let’s get on down to the main attraction, With a little less talk and a lot more action.”–Elvis
AMD (AMD) CEO Hector Ruiz makes a few promises a year and keep none of them. Most are about sales and profits. According to MarketWatch today “he reaffirmed his team’s vow to make AMD operationally profitable by the second half of 2008″
The was not the worst of it. Ruiz has been hinting for months that he will get out of some of the company’s manufacturing businesses, out-sourcing them to save money. There have even been rumors that he will sell of spin-off the company’s graphics chip business, the one AMD paid $5 billion for.
The company’s shares are trading down slightly today. They are still near their 52-week low. That is not likely to change. The company’s forecast for the current quarter is awful.
One more day of promises from Ruiz and another day with nothing delivered.
Douglas A. McIntyre