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.
|