AMD's share price rises on positive forecast

AMD bucked the trend in high technology stocks yesterday as it saw its share price rise to $60, rising by $5.25 during the day's trading. That followed positive reports by several analysts suggesting that its quarterly results, due in April, were likely to be better than expected, as well as market research which showed AMD was gaining market share over chip giant Intel. According to market research firm PC Data, AMD took 42 per cent share of the retail PC market in the US in February, a figure which is close to the last reported figures by the company in January. In other news, AMD said that while it will sell off its communications products division, it will hold onto its network products division, because of growth in that sector. While AMD's share price rose, other tech stocks did not fare so well. Intel's share price fell by nearly five dollars on the day, while Rambus has seen its price fall during the week. Yesterday, the stock fell to below $300. It has seen a steady decline during the week. ®