AMD: S&P Downgrades to Sell on Valuation

Standard & Poor’s analyst Clyde Montevirgen today cut his rating on Advanced Micro Devices (AMD) to Sell from Hold on a valuation basis. He notes that the stock has moved higher today on its agreement to sell its digital TV business to Broadcom (BRCM). The analyst notes that the deal will “provide needed cash and reduce operating expenses.” And he also expects increasing sales of new chips to help margins. But Montevirgen nonetheless thinks “losses will continue to weigh on the stock,” and maintains a $5.50 price target.

Read the rest of this post

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »