AMD Shares Tumble To 10-Year Low

After warning that the soft PC market would result in poor quarterly revenues, AMD's stock today hit a 10-year low.
AMD shares are trading around $3.83, down 28% since yesterday, and analysts are worried that the company may burn through a substantial portion of its $1.1 billion in cash if business doesn't turn around. AMD has been hit by a triple whammy of lower unit sales, revenue and average selling prices. The company expects revenue of about $500 million for Q3 (which ended September 29), off of analysts' forecast of about $614 million in revenue. It said it expects a "substantial operating loss for the quarter". Robert Rivet, AMD's Chief Financial Officer, explained that the shortfall was caused in part by trying to lower its inventory in Q3, which led to lower chip prices. "In the absence of any significant improvement in PC demand in the just completed quarter, we accelerated our efforts to reduce processor inventory in the PC supply chain," Rivet said. "The aggressive actions we took to lower the total inventory and align the mix with current opportunities had a significant negative impact on our third quarter processor sales in units, revenues and [average selling prices]."

Latest Jobs


Vancouver, BC, Canada

Bladework games

Remote (United States)
Senior Gameplay Engineer

University of Canterbury

Christchurch, Canterbury, New Zealand
Academic in Game Arts and Animation

Fred Rogers Productions

Hybrid (424 South 27th Street, Pittsburgh, PA, USA
Producer - Games & Websites
More Jobs   


Explore the
Advertise with
Follow us

Game Developer Job Board

Game Developer


Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Advertise with

Game Developer

Engage game professionals and drive sales using an array of Game Developer media solutions to meet your objectives.

Learn More
Follow us


Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more