Advanced Micro Devices Inc (AMD)

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Remember the good ol' days...

AMD share price continues to rise

Rollins, rollins, rollins


By Cher Price: Friday 12 November 2004, 15:53

* UPDATE It's $20.25 now, having risen $1.66 during the day's trading. INTC wobbled, rallied, and is now $23.39.
THE SHARE PRICE of AMD continued to rise steeply on Wall Street, after Wells Fargo rated the stock as a "buy".

At press time, it stands at $19.54, although it had reached $19.72 earlier on. On Wednesday this week it stood at $17.29. On that day, Lehman Brothers gave the firm the thumbs up.

Yesterday Merrill Lynch said there was room for the shares to grow, but Smith Barney reckoned the NOR flash memory market could drag things down.

Meanwhile, Intel (tick: INTC) opened at $23.03, down a little despite bullish results delivered by its major distributor Dell yesterday night.

No doubt an Infoworld story gave it a further boost, but whether Dell ever adopts the Opteron or not, such stories in the trade press do allow it to put pressure on Intel. Dell is Intel's biggest customer.

Over the last few years, AMD staff have routinely trekked into Dell's offices to pitch their processors, and Intel knows all about that. µ