Shares of chipmaker AMD (AMD: news,
msgs) hit a string of new highs this week
amid optimism surrounding the company's
forecast of strong first-quarter sales. See
related story.
"There have been pre-announcements on
the upside for many, and the outlook is very
bullish for the second half," he said.
Analysts at First Call expect AMD to post
earnings per share of 51 cents when it
reports earnings next Wednesday. The stock
jumped 3 1/8 to 74 1/8 after reaching an
intraday high of 75 -- a new 52-week record
high.
AMD -- Intel's main competitor in
microprocessors -- said earlier in the week it
expects to post $1.06 billion in sales, and
has met its goal of selling at least 1.2 million
AMD Athlon processors during the quarter.