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AMD share price breaks $40 barrier

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A Securities and Exchange Commission (SEC) filing earlier this week showed that AMD stock has become hotter than fire, as yesterday its share price broke the $40 barrier. The filing, on a form SC13G, showed that on the 12th of January last, Friess Associates Inc, based in Jackson, Wyoming, bought 7,969,000 shares in the chip company. Friess Associates is an investment adviser. The large purchase of shares requires an SC13G form to be filed, to show that there is no intent "of changing or influencing the control of the issuer of such securities". In other words, it is an assertion that the buyer of the shares is not involved in any kind of takeover of the company. AMD's share price was around the $35 mark on the 12th of January. Its low point, in the last 52 weeks, was around $14 last April, but for months it rumbled along at $16, during the period it was launching its Athlon (K7) microprocessor. AMD reports its quarterly earnings next week. Intel's share price shot up by $12 yesterday to close at over $103 on Wall Street, a rise of over 13 per cent, following a better than expected Q4. Foster Freiss, who signed the filing and who is chairman of the company, has a "pigs in the trough" theory about investment, details of which can be found here. This theory is derived from his observation that it isn't necessarily the big fat piglets that get to eat first. The Brandywine Funds his firm manages has over $4 billion net assets. This investment gives it around five per cent share in AMD. The AMD filing can be found in the SEC Edgar database, here. ®

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