AMD announced today that its revenues aren’t going to be what they said they would be.
Given that AMD was predicting a seasonably off quarter, that means AMD’s revenues will be off more than 10% than last quarter, which is a bit more than the usual seasonal drop.
The question, of course, is, by how much?
Fortunately (or very, very unfortunately if you’re Hector Ruiz), Hector is supposed to give a presentation to a stock analyst conference in a few hours (10:30 PT, 1:30 ET).
Hector is going to have a bad day.
As one news account succinctly put it, “The company is hurting from a brutal price war with much-larger rival Intel Corp. and has been punished by investors for a product lineup that some say is in dire need of an upgrade.”
That’s bad enough, but how would you like to be the head of a company whose stock has tanked telling people, some of whom have lost their shirts sticking with AMD, that what they really need to do is buy hundred of millions more new shares in the company, which will probably make them lose even more money on the shares they already have?
Unless Hector is going to announce selling the company today, he is going to have a very bad day.
No doubt he’ll talk a lot about K8L/K10, but how much can he say given recent comments from his PR guy that Barcelona will really be roughly about 10-15% faster than Intel’s current Xeon.
You can listen to the festivities later today, and we’ll very likely have something to say about that later today.