OK, so AMD is almost up a buck @ 15.00~ since I bought it @ 14.10, but it still hasn’t shown us why it deserves to march higher.  It will have an opportunity to do so when it announces earnings on 07/19 at 5:00pm ET.  Per UBS…..

“For AMD’s 2Q07 UBS expects revs of $1.27 bln (+3% Q/Q) with loss per share of
$0.83 — a slight increase over their earlier ests of $1.248 bln/$0.84 and
slightly ahead of consensus. The firm believes strength in the CPU market will
benefit both Intel (INTC) and AMD, and with AMD having burnt off excess
channel inventory, could benefit from refresh ahead of the back to school
season. However, the firm says margin upside could be limited by continued
weakness in servers and start-up cost associated with launching new 65nm
graphics chips.”

I am staying pat to see what AMD has in store this quarter. I retooled my holdings swapping out some of my equity for August in the money calls. I feel confident in AMD breaking to the upside with any glimmer of good news.

Related Post: Play of the Day: AMD

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Disclaimer: I am LONG AMD stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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