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AMD stock drops after revenue warning |
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| Business and Law | ||||||
| By Wolfgang Gruener | ||||||
| Tuesday, April 08, 2008 14:57 | ||||||
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AMD saw its stock decline $0.30 or about 4.7% to $6.04 following the quarter update released by the company yesterday. Based on a stock price of $6.04, AMD has a market capitalization of about $3.66 billion. The share price is in the range of a five-year low, which was hit at $5.42 on January 10 of this year. Back in January of 2003, AMD stock briefly traded below the $5 mark.
AMD announced yesterday that its Q1 revenue fell short of expectations and the company would lay off about 10% of its staff to bring its cost structure in line with its revenue performance.
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