AMD stock gets a boost from splitting news
October 7th, 2008 Leave a comment Visited 29 times, 1 so far today
AMD stock gets a boost from splitting news
AMD has just announced that they are splitting their operations into two entities as part of a deal with Abu Dhabi government.
The new helped the AMD stock gain in the stock market as it rose by 17 percent, to $4.93 in the New York Stock Exchange.
Analysts believe that this deal is a lifesaver for AMD which has been struggling to keep up the pace of their chip development against Intel.
Market analyst Doug Freedman said in a note about AMD: “People thought that AMD was on the brink of bankruptcy. It definitely pushes them far away from that.”
A new company formed from the split would receive $6 billion from Abu Dhabi to open new factories and manufacture chips for AMD and other companies.
|
TechWhack on Facebook
|
This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.