AMD has reported a dismal first quarter performance. It has slipped deep in the red with a net loss of $611 million. Clearly, AMD is going through hard times with decreasing average selling prices of microprocessors coupled with stiff competition from Intel. Add to that, the burden of acquiring ATI.
Robert J Rivet, AMD’s chief financial officer, has said
We are aggressively addressing the issues that led to our significant revenue decline. We are aligning our business model, capital expenditures and cost structure with the goal of accelerating our return to profitability.
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