Advanced Micro Devices Inc (AMD)

[bobs10]

It looks like yesterday’s pattern of AMD shares getting scarce below $11 is continuing today. Further, it looks like AMD's price has deteriorated to the point where there are a significant number of buyers willing to take a flyer on probably a short-term AMD gain.

Macro events still rule, but it's significant that HPQ's weak numbers haven't affected AMD as much as INTC. On the other hand DELL will probably meet or beat expectations so INTC will probably recover tomorrow.

I'm really looking forward to the INTC mid quarter meeting. It will be extremely interesting to see if INTC still has its' ducks lined up. Personally, I'm expecting INTC to lower estimates, but blame it on general market conditions, so AMD won't benefit any. But I can't shake this feeling that the fab30 knob has been turned to the right and things are going well. All these INTC chipset problems and high-end processor production problems have got to be hurting INTC sales. And that's without talking about the new cases and pin layouts which should be adding to the confusion.

It definitely looks like INTC's trying to morph into something new. The problem is I'm not sure that INTC has a clue as to what that might be yet. Lately INTC looks like a moth dancing about a flame, and we know what that flame is.