On a previous article I said, one of the reasons why Advanced Micro Devices (NYSE: AMD ) was trading at such a low price/sales ratio compared to Intel (NASDAQ: INTC ) , was because AMD is a turnaround situation play and still has balance sheet issues.
Advanced Micro Devices Inc. (NYSE: AMD) is going to have some upset investors after its second quarter earnings report, but these same investors may want to consider that AMD is still in the first third of its turnaround initiatives.
Specifically, put volume on Advanced Micro Devices, Inc. surged to six times the norm on Friday, as the stock's steep post-earnings plunge triggered a short-selling restriction -- effectively herding bearish traders into AMD's options pits.
In my previous article, I briefly wrote that AMD's (NYSE:AMD) third-quarter guidance seemed rather conservative as we head into the company's stronger half of the year. Last week, the pre-earnings rally brought the stock to a new 52-week high of $4.80 ...