AMD talks about a long-term turnaround
Semiconductor designer Advanced Micro Devices Inc. is making major strategy decisions that executives don’t expect to manifest for several years.
California-based AMD, which is the former parent of the GlobalFoundries computer chip manufacturing company, must contend with quarterly earnings and shareholders bound to get restless amid sluggish results. Such conditions may not be conducive to making a turnaround — yet that’s what CEO Lisa Su is tasked with doing.
Last week, Reuters, citing anonymous sources, reported that AMD is considering whether it should split itself in two or spin off a business to reverse its fortunes and compete with rival Intel Corp. (Nasdaq: INTC). AMD officials countered that the report was inaccurate and Su declined to discuss the matter.