Advanced Micro Devices Inc (AMD)

[facsnotfiction]

Hailmary, what's happening is in part a short covering rally. AMD would usually trade around 10-11 million shares, and although about 5 million additional shares traded could be due to the upgrades. I suspect the rest is shorts squaring their positions. There was something like 64 million shares short last month, and the shorts are having their feet put to the flames. The stock will likely stall out before it get's much higher. Look for the stock to trade in a range then unless news comes out about brisk or slow pc sales before Christmas. I think AMD will make at least .24 for Q4, and I think analyts are going tohave to raise estimates for Q1 from the current .12 . AMD is taking away market share in the high margin server business, as well as selling many more high end desktop cpu's. I look for Flash revenues to be flat to slightly up in in Q4. What will be interesting to see is when AMD will pass Intel's stock price.