AMD denies rumors of company sale
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POSTER: computer news || AMD DENIES RUMORS OF COMPANY SALE |
DATE:2012-11-14 |
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AMD announced a shift in priorities in the development of product line. In the coming years up to 40-50% of the company revenue is going to receive from embedded, server processors and products with low power consumption. AMD will not forgot about graphic solutions, but they are not in the list of explicit priorities . It was announced that Opteron processors will power the architecture of ARM. Last week, the board of AMD directors became the majority shareholder representative on behalf of Arab investment company Mubadala. If we consider that AMD is going to cut 15% of staff and move to a new operating model to go on break even with the volume of the quarterly revenue of $ 1.3 billion, the company will have to change a lot of experience. As stated initially, AMD representatives hired JPMorgan Chase & Co. for consultation on the study of strategic options, including the sale of the company or part of its assets. The news immediately caused a rise in the shares of AMD by 18-20%, although this increase rapidly decreased to 3-5%. AMD representatives sent a letter which denied rumors of preparing the company for sale. AMD leadership believes that they chose the right development path. | ||
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AMD DENIES RUMORS OF COMPANY SALE |
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