PC Perspective is reporting that there won't be a replacement for Phil Hestor who resigned this week. This makes me wonder what is happening to AMD. Link to original story: http://www.pcper.com/comments.php?nid=5474
I read at marketwatch.com that he is going out of his own accord and that the position of CTO will be distributed to selected individuals at each of AMD's major segments. An arrangement that this guy was promoting all along during his tenure. I am long on this stock and i pray hard each day things are turning around.
I just don't understand why anybody would buy stock in this company? I've said this multiple times here on ET. Their debt/equity is 1.76. Their retained earnings defecit is over 3 billion and has lost 10 times it value in the last 4 quarters. They have no long term investments (which means they've cashed them all out for liquidity). Their goodwill has been cut in half over the last 4 quarters (meaning they have many parts of their organization which are just simply not functioning profitably and won't function profitably). They have no short-term or long-term notes (which probably means banks no longer will loan to them). They have over 5 billion in long-term debt which has almost doubled the last 4 quarters. I mean seriously...there is NOTHING in their financial statements that can be intepretated as positive over the last 4 quarters. This company is quite frankly running on fumes. Any injection of funds or buy outs that happen are going to come at a steep discount and stockholders will most likely not get a dime back.
No. Had i gone in half at my initial position I would have thankfully average down. But now i am deep in the hole. You'd think I'd learn something browsing these forums daily. It was one of those daytrades that is turning into an investment. And it does not seem to be a very wise one at this point.