Reuters
AMD Cheap Based on New Chips - Barron's
Sunday August 17, 2:34 pm ET
NEW YORK (Reuters) - Shares of microprocessor maker Advanced Micro Devices Inc. (NYSE:AMD - News) may be poised to rise given the success of its new chips, Barron's reported on Sunday, noting that influential technology strategist Fred Hickey has been buying the stock.
The weekly financial newspaper also said that Sunnyvale, California-based AMD, a distant second to No. 1 microprocessor maker Intel Corp. (NasdaqNM:INTC - News), is looking for ways to raise money, including a possible common-stock offering.
AMD's products are "the buzz of the industry" and its new Opteron chip is getting rave reviews, threatening Intel's hold on computer servers and workstations, according to Barron's.
Hickey, who published the High-Tech Strategist newsletter, believes Sun Microsystems Inc. (NasdaqNM:SUNW - News) will likely use Opterons in a line of servers. He also expects Hewlett-Packard Co. (NYSE:HPQ - News) to use AMD's desktop and notebook computer processor, according to Barron's.
Shares of AMD "look awfully" cheap compared to Intel, Barron's said.
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