Trading in Advanced Micro Devices? (AMD) shares was halted on Thursday after the semiconductor company revealed it may incur an operating loss for its current quarter due to Intel's price cuts.
The consensus estimate from First Call had put profits at $0.11 per share, however, which led the firm?s stock price to fall $2 to $18.94 before trading was cancelled.
WJ Sanders, AMD?s chairman and chief executive, said: ?In the light of Intel?s recent pull in of its February 28 price reductions to February 8, and pending product announcements, we are reassessing our competitive response." He continued: "The likely outcome is that we will be unable to increase our microprocessor average selling prices in the current quarter. This will put additional pressure on our gross margins.?
But he added that AMD had implemented design enhancements that would increase the yield of its flagship K6-2 processor towards the end of the quarter.
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