CEO Hector Ruiz and other Advanced Micro (AMD) execs fessed up today that bugs in its new quad-core Barcelona server and Phenom desktop chips will delay these key next-generation technologies. The fastest versions will be delayed at least three months.
Now that the news is out this could very well be the time to buy AMD (that is once a strategy materializes).
AMD is sitting on major support right now and there is clear divergence. It is not yet triggered, but an Elliott Wave Type II Counter Trend Buy is setting up.
(Left click on the chart to view the entire chart).
Once this sell off is exhausted, we could be looking at a long term buy opportunity.
Ernest O.
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