SAN FRANCISCO (Reuters) – Struggling U.S. chipmaker Advanced Micro Devices Inc (AMD.N: Quote, Profile, Research, Stock Buzz) said on Thursday it was cutting 7 percent of its workforce and it gave a lower-than-expected revenue forecast for the current quarter, sending its shares lower.
The company’s third major round of job cuts since 2011 comes a week after AMD said Chief Executive Officer Rory Read had been replaced by Chief Operating Officer Lisa Su, an unexpected move that sparked speculation about fresh troubles at the chipmaker.
By Nick Brown and Noel Randewich
(Reuters) – The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out.
Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects.
SAN FRANCISCO (Reuters) – Intel’s (INTC.O: Quote, Profile, Research, Stock Buzz) mobile and communications group took in a scant $1 million in revenue in the third quarter, underscoring the challenge the top chipmaker faces expanding into smartphones and tablets.
The Santa Clara, California-based company on Tuesday reported third-quarter results that beat Wall Street’s expectations, helped by a recovery in personal computers, by far its largest market.
A global slump in personal computer demand that began with Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) launch of the iPad four years ago has stabilized in recent months, in part due to companies replacing employees’ older laptops.
Oct 8 (Reuters) – Advanced Micro Devices said Chief
Operating Officer Lisa Su would immediately replace Rory Read as
chief executive officer as the chipmaker expands beyond its core
personal computer market, sending its shares down 5 percent in
The transition comes just three years into Read’s tenure as
CEO and while analysts applauded the leadership change, some of
them were surprised at the timing.
SAN FRANCISCO, Oct 8 (Reuters) – Apple Inc said on
Wednesday it was surprised by supplier GT Advanced Technologies
Inc’s bankruptcy filing this week, and is now
considering its next steps.
GT Advanced, slated to supply scratch-resistant sapphire
displays from a new Arizona factory Apple is helping bankroll,
filed for bankruptcy on Monday but has offered little
explanation as to why.
SAN FRANCISCO/TOKYO (Reuters) – The financial implosion of Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) supplier GT Advanced Technologies Inc this week offers a dramatic illustration of how the iPhone maker can put the screws to suppliers willing to take a short-term risk for future riches.
GT Advanced has offered little explanation as to what prompted its surprise bankruptcy filing on Monday. The company also did not respond to requests for comment.
SAN JOSE California (Reuters) – Hewlett-Packard Co’s vice president of server engineering expects new lower-power servers made with technology from ARM Holdings to make inroads in niche data centers over the next year in a market dominated by Intel Corp.
“Penetration is very low right now because we’re starting from zero. But the take-up is pretty encouraging,” Tom Bradicich said.
SAN FRANCISCO (Reuters) – Larry Ellison was the main draw for tens of thousands of technology professionals at Oracle Corp’s annual conference in San Francisco on Tuesday, where he joked about losing his name after relinquishing his role as the company’s CEO.
Ellison, who this month gave up his position as chief executive of the enterprise software behemoth he co-founded 37 years ago, stuck to his tradition of delivering the main presentation at Oracle OpenWorld.
BEIJING/SAN FRANCISCO, Sept 26 (Reuters) – Intel Corp
said it will pay as much as $1.5 billion for a 20
percent stake in two mobile chipmakers with ties to the Chinese
government, in the hopes of catching up in a smartphone chip
industry dominated by rival Qualcomm Inc.
Intel will acquire the stake in Spreadtrum Communications
and RDA Microelectronics through a deal with Tsinghua Unigroup,
a government-affiliated private equity firm which owns the two