AMD to post operating loss for 1st period

Article Abstract:

Advanced Micro Devices Inc. expects to post a first-quarter operating loss because of earlier than expected price cuts by Intel Corp. The price war began in early January when Intel lowered prices for its Celeron microprocessor in response to AMD's 1998 market share lead in chips for the sub-$1,000 personal computer retail market. Intel, with faster and cheaper chips, is attempting to recapture the market in low-cost computing as well as make room for its 450- and 500-megahertz Pentium III microprocessors due out in late February. High technology sector market concerns and negative comments from analysts caused AMD's shares to drop by $2.00 to $18.9375. Intel's stock fell $8.5625 to $130.125 as the Nasdaq Composite Index dropped 83.34 to 2410.07.

Semiconductor device, Electronic components

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AMD reports record loss for 2nd period

Article Abstract:

Advanced Micro Devices Inc. posted huge operating losses for the second quarter. That, plus the announcement of the resignation of Atiq Raza, their second highest executive, who was to replace W.J. Sanders, III upon his retirement, proved to be a massive blow to the company. The sudden departure of Mr. Raza caused speculation of an internal power struggle. Net income was $79.9 million with a net loss of $162 million.

Appointments, resignations and dismissals, Abstract, Sanders, W.J., III, Raza, Atiq

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