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Intel Gains Market Share Against Advanced Micro Devices
(InvesTrend Via Acquire Media NewsEdge)
July 23, 2008 (FinancialWire) Shares of Advanced Micro Devices (NYSE:
AMD) dropped 5% to a multiyear low after an analyst said that the
slumping chip maker had recently lost more market share to larger rival
Intel (NASDAQ: INTC) (Current Market Cap: US$116.59 Bil.).
Sunnyvale based AMD has been hurt by product delays and the company's
deepening financial woes, factors that have allowed Intel to increase
its lead in the market for the microprocessors used in personal
computers. After AMD reported its seventh quarterly loss in a row last
week the chip maker replaced CEO Hector Ruiz with chief operating
officer Dirk Meyer.
AMD's stock price fell another 24 cents, or 5.2%, to $4.35 in midday
trading after Lehman Brothers analyst Tim Luke published a research
note showing that Intel gained more market share at AMD's expense in
the second quarter. The stock had been up above $40 per share in 2006
but it has recently traded at its lowest point since October 2002.
Intel, the world's largest semiconductor company, boosted its total
market share from 79.2% in the first quarter to 80.5% in the second
quarter, according to Luke.
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