What a joke, the expectations were thru the floor, and they couldn't even meet them. I'm long 10 X 14 puts and 20 X 12.5 puts (which were worthless today for the most part), i might actually see a return on them.
Yeah, that's their life story. They've been disappointing on the earnings front since the dawn of time.
And it bounces back. For all this talk of AMD headed for single digits, I really don't know what it would take to bring it down into that realm. Very strong resistance at 12.99. It's over $14 now after these earnings came out.
How does a stock that reported one of their worst quarters in history trade higher. This stock should be off more than 20% on news like this. Its things like this that make this market even more confusing.
Yeah, I was really happy when I heard they missed their already low low expectations by a mile.. they plunge 9% when the stock opened, then recovered it in an instant.. wtf.
lol is right. AMD is getting the last laugh. If they keep losing money like this, Intel better watch their bad selves.
Because the bad news is priced in... and wasn't as bad as some people expected. The world's chips are sold between Intel and AMD... Intel's numbers are a predictor's of AMD's also. What one missed, the other got. Plus AMD owns ATi, which they're still digesting. If Barcelona is any good, Intel may have a problem, especially with AMD's new ability to incorporate cost savings and tandem development of CPU and graphics now ... something a lot of people count on. It was always a given that AMD would recover, then exceed. You are no longer talking about just AMD, as it was just a year ago. You are talking about 25% of the world's chip market, and 60% of the world's graphics market now in 1, hopefully not bloated, company. It was only a matter of when and by how much it would recover. I didn't think it was possible it would go below $10, and it never even went below $12. But with a shortage of good news for the sector, I don't think it's going to quadruple just yet. But it will.
The stock went up because it would be impossible for AMD to be in any deeper **** than it is in now so therefore the only direction to go is up.