Advanced Micro Devices, Inc. (NYSE:AMD) employees must be excited about their future under new, hopefully better guidance. Over two days’ time AMD announced the arrival of two important people onboard.
The first new passenger of AMD’s corporate liner is Mr. Jack Harding, CEO and president of eSilicon, one of the world’s largest fabless makers of application-specific integrated circuits. Mr. Harding will be part of AMD’s board of directors and expressed his excitement to work with a company such as AMD.[BANNER]
Harding has 25 years of experience in the semiconductor business and 12 years at the helm of eSilicone under his belt. His work with eSilicone in particular may be very useful to AMD who also make special-purpose semiconductors and have no fabrication facilities of their own.
The other new face is Mr. John Gustafson, AMD’s new chief product architect of their GPU unit. Gustafson is making the switch from AMD’s bigger cousin, Intel Corp. (NASDAQ:INTC), where he worked with the eXtreme Technologies Lab. AMD plans to use Gustafson’s experience to develop its GPU roadmap and plan new technologies, as well as further enhance its program for the Radeon and FirePro graphics products.
The two new big names on AMD’s team are no doubt positive news for all supporters of the company. AMD have started something of a top-level shuffle streak by making Mr. Suresh Gopalakrishnan their new corporate vice president and manager of the server division in late June. The company seems to strive for significant change in every aspect of its business, which is an understandable move considering the current state of AMD stock.
AMD slipped past its three-year low last week and yesterday closed another $0.11 down from that value at $3.77. Times are tough for the company, with an in-house outlook for Q3 in the negative percentile range and both CPU and GPU revenue having gone down in Q2.
The new people invited onboard signal a change, or determination for change at the very least. Whether the new experts manage to pull the company out of its downward spiral on time remains to be seen. While the general sentiment seems to be to hold AMD stock, investors have to do some more waiting in anticipation of the company’s Q3 earnings report in mid-October.
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IMPORTANT AMD UPDATE: August 30th 2012 – AMD is making a chart pattern that has been seen 515 times since the year 2000. 51.46% of the stocks that have made this pattern went up over 14% in a 20 day period. Watch the video to learn more about the probabilities of AMD stock moving up.  |
