The Zacks Analyst Blog Highlights: Advanced Micro Devices, Apple, Intel, Microsoft and NVIDIA

   The Zacks Analyst Blog Highlights: Advanced Micro Devices, Apple, Intel,
                             Microsoft and NVIDIA

PR Newswire

CHICAGO, July 12, 2012

CHICAGO, July 12, 2012 /PRNewswire/ -- Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Advanced Micro Devices, Inc.
(NYSE:AMD), Apple Inc. (Nasdaq:AAPL), Intel (Nasdaq:INTC), Microsoft Corp.
(Nasdaq:MSFT) and NVIDIA Corp. (Nasdaq:NVDA).

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Here are highlights from Wednesday's Analyst Blog:

Advanced Micro Trims Sales Guidance

Advanced Micro Devices, Inc. (NYSE:AMD) slashed its revenue guidance for the
second quarter of 2012.

The chip maker now expects sales to decrease 11% sequentially versus its
previous forecast of a 3% increase (+/- 3%). However, the company reiterated
its gross margin guidance of flat to slightly up from the previous quarter.

We believe that management's previous guidance was based on the strong product
cycle (Trinity, Brazos2.0, 28nm GPU) and steady progress on 32nm yields. But
demand appears to be weaker than expected due to softness in China,
uncertainty in Europe as well as lingering weakness in the U.S. personal
computer market.

Competition has also increased, with price cuts in the PC business because of
the growing popularity of Apple Inc.'s (Nasdaq:AAPL) iPad and other tablets.
Additionally, Advanced Micro faces growing competition from Intel's
(Nasdaq:INTC) IvyBridge, as well as its growing capacity and lead at 22nm.

Advanced Micro is the second largest producer of microprocessors, GPUs and
chipsets in the world. The company reported revenues of $1.59 billion in the
first quarter, down 6.3% sequentially and 1.7% year over year. However,
earnings of 17 cents a share were well ahead of the Zacks Consensus Estimate
of 9 cents. The company's compelling product line-up, new products (Brazos,
Llano and Bulldozer), growing position in graphics and cost efficiencies
should drive improved results going forward.

The company is expected to report second quarter results on July 19. We
believe that the company will face increased competition this year when
Microsoft Corp. (Nasdaq:MSFT)begins selling a new version of its operating
system aimed at tablets and other mobile devices that will work on processors
from Intel and NVIDIA Corp. (Nasdaq:NVDA).

However, we believe that most of AMD's business is in chips for PCs that don't
have a meaningful presence in smartphones and tablets. In order to deal with
Intel and NVIDIA, Advanced Micro also needs to enter into these emerging
markets.

Advanced Micro shares currently carry a Zacks Rank of #3, implying a Hold
recommendation in the short term (1–3 months).

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