The new low
The financial crisis is surely hitting the IT sector, and some companies are going through their lowest and darkest hours. In the last 52 weeks, AMD was selling from $2.78 its lowest, to $13.80, its highest price, and as of today, the company's market capitalization is down to a pitiful $1.79 billion.
This stock is actually not only reflecting AMD’s weak performance; it is actually hurt by the global financial crisis that is really shaking the financial world down to its fundamentals.
AMD did deliver a promise that they will achieve operational profitability in Q3 2008, but as the complete market is going down, they are dragging AMD with it. Nvidia is down to $6.97, its 52-week low and Intel and all the other IT companies are also hurting from the current crisis.
