| Tech Stock News and Analysis |
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| Tuesday, January 16, 2007 |
Analysts at UBS downgrade Advanced Micro Devices to "reduce," while reducing their estimates for the company. The 12-month target price has been reduced from $23 to $16.
In a research note published yesterday, the analysts mention that the company is likely to have witnessed significant ASP pressure in 4Q06, primarily in the dual-core products segment. The analysts express their concern regarding Advanced Micro Devices’ ability to attain the gross margin and cash flow guidance for 2007. The EPS estimates for 4Q06 and 2007 have been reduced to $0.06 and $0.88, respectively. |
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