Advanced Micro Devices and Micron Technology Shares Fall as Demand From China and Europe Slows
The Paragon Report Provides Stock Research on Advanced Micro Devices and Micron Technology
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/11/12 -- It has been a tough week for semiconductor companies as recent reports from both Advanced Micro Devices and Applied Materials signaled demand from China and Europe is slowing. The Philadelphia Semiconductor Index (SOX) has fallen over 5 percent in the last week. "Both China and Europe are quite weak," Michael Splinter, Applied Materials' Chief Executive said. "Both markets are worse than they were at this time last year." The Paragon Report examines investing opportunities in the Semiconductor Industry and provides equity research on Advanced Micro Devices, Inc. (NYSE: AMD) and Micron Technology, Inc. (NASDAQ: MU).
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Applied Materials, producer of chip making equipment, on Tuesday stat ed that revenue for the fiscal year to fall short of previous estimates of $9.1 billion to $9.5 billion and adjusted per-share earnings of 85 cents to 95 cents. A new forecast will be provided after the company reports its earnings for the coming quarter.
The announce came shortly after Advanced Micro Devices reported weaker-than-expected demand due to "business conditions that materialized late in the second quarter, specifically softer-than-expected channel sales in China and Europe as well as a weaker consumer buying environment impacting the company's [manufacturing] business."
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AMD announced that revenue for the second quarter ended June 30, 2012 is expected to decrease approximately 11 percent sequentially. The company previously forecasted second quarter 2012 revenue to increase 3 percent, plus or minus 3 percent sequentially. AMD will report second quarter 2012 results after market close on Thursday, July 19, 2012.
For the third quarter, Micron had a net loss attributable to shareholders of $320 million, or $0.32 per diluted share, on net sales of $2.2 billion. The results for the third quarter of fiscal 2012 compared to a net loss of $282 million, or $0.29 per diluted share, on net sales of $2.0 billion for the second quarter of fiscal 2012, and net income of $75 million, or $0.07 per diluted share, on net sales of $2.1 billion for the third quarter of fiscal 2011.
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Datum: 11.07.2012 - 06:20 Uhr
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