Advanced Micro Devices rallies after settling Intel tiff

Filed under: Law, Intel (INTC), Advanced Micro Dev (AMD), Options, Technical Analysis

Advanced Micro Devices (AMD) soared to a new annual high Thursday morning after the chipmaker settled its antitrust case against rival Intel (INTC). Under the terms of the agreement, Intel will shell out $1.25 billion to AMD, and will abide by a new set of rules for conducting business. The pact also includes a renewed cross-license agreement between the two chip titans.

In prepared comments, AMD CEO Dirk Meyer called the settlement a game-changer. "We are optimistic that it will usher a new era for our industry," he said. "We recognize that it will take time for people to understand how the operating conditions in the processor business have changed. But make no mistake -- they have changed."

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Advanced Micro Devices rallies after settling Intel tiff originally appeared on BloggingStocks on Thu, 12 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

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