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AMD stock takes another tumble
Editorial
Written by Gizmo   
Wednesday, 28 November 2007 11:22

The news just keeps getting worse for AMD.  According to an article at Forbes,American Technology Research analyst Doug Freedman downgraded the stock from 'buy' to 'neutral', causing the stock price to drop about 2.3% in value, and revised his target from $17 to $11.  As a consequence, the stock price hit a new year low.  In addition, he indicated that he doesn't see the potential for anything positive from AMD for at least 3-4 months.

This second part is particularly damning for AMD.  Stock prices rise and fall at the whims of investors, and a stock may fall in value, not because a company is doing badly, but simply because the company isn't doing what the market wants.  Most successful businessmen will tell you that letting Wall Street manage your company is a quit route to bankruptcy, so simply having the street downgrade your stock is not necessarilly a bad thing.  To have an analyst say that they don't see the potential for a 'material positive change' for 3 or 4 months is another matter.

Hopefully things will begin looking up for AMD pretty soon.  They certainly aren't looking real good right now.

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