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AMD dragged down by "disappointing" Intel report

AMD results out tonight
Wed Apr 14 2004, 15:30
SHARE PRICES of AMD on the NYSE opened lower this morning, dragged down by disappointing results released by Intel last night.

AMD releases its own quarterly results tonight, and it will be worth watching and closely contrasting with the Intel results, which we'll do later.

At press time, AMD stands at $17.09, while INTC stands at $27.56.

Intel's revenue grew 20% in the quarter to the end of March, but it turned in a jump in its net profits of 89% amounting to $1.73 billion. Most firms wouldn't be disappointed by that sort of profit, based on a 60% gross profit margin, but the analysts on Wall Street had expected it to do somewhat better.

It was left with a big lump of excess Pentium M/Centrino stock in Japan during the quarter, according to Intel. µ

 

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