AMD has hired investment bank JP Morgan as consultant

Absrtact: AMD hires JPMorgan to explore strategic options according to foreign media reports, sources said in Tuesday, AMD has hired investment bank JP Morgan as a consultant to explore the company, including external sales of strategic options. As the focus of the processor manufacturing industry deviates

AMD hires JPMorgan to explore strategic options

According to foreign media reports, sources said in Tuesday, AMD has hired investment bank JP Morgan as a consultant to explore the company, including external sales of strategic options. With the processor manufacturing industry shifting its focus away from traditional PCs to mobile devices, AMD has become increasingly difficult to find a foothold.

The source said that direct external sales is not AMD's current preferred strategy, the company will also consider the issue of the sale of patent lines. AMD, one of the longest-running chip makers in Silicon Valley, is cutting jobs. Some market analysts worry that AMD may not be able to find new markets for processors to curb the shrinking cash reserves of companies.

AMD's share price has fallen by more than 60% this year, and the company's market capitalisation has dropped to around $1.4 billion trillion. At present, AMD's long-term debt and capital leasing debt is about 2 billion dollars. So far, both AMD and JPMorgan's spokesmen have not been able to report this.

AMD announced in the third quarter of October 18, to cut operating costs, the company will be the second round of layoffs in the year, the size of the existing total number of employees 15%. As the global economy continues to slump and consumer markets move towards mobile products such as tablets, AMD has had to accelerate its restructuring, with a second round of layoffs planned for 15% of its existing workforce in the year. AMD currently employs 12,000 people worldwide, and layoffs will help companies save at least 190 million dollars of operating costs next year. The layoffs are expected to generate about $80 million trillion in restructuring costs in the fourth quarter.

AMD shares rose 0.10 U.S. dollars in the NYSE's regular trading in Tuesday, up 5.03% per cent to $2.09. For the past 52 weeks, AMD's lowest share price was $1.96, with a maximum of $8.35.