AMD Shares up on Oracle Takeover Buzz

It's a dangerous game betting that Oracle (NASDAQ:ORCL) will pick up Advanced Micro Devices  (NYSE:AMD) as Larry Ellison continues his plans for world domination.  Yesterday AMD reported a terrible quarter and cut its guidance, so today's 4% increase is all on a gamble.

AMD reduced its Q3 sales outlook, with the chip maker saying it expects revenue to fall in a range of 1% to 4% compared with second-quarter revenue of $1.65 billion.  However traders are loading up on AMD shares today on the possible takeover speculation, as Oracle (ORCL) CEO Larry Ellison said that Oracle would look to acquire chip companies.  Analysts speculated that AMD may be a possible acquisition candidate for Oracle..

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Advanced Micro Devices Inc (AMD) shares have traded between $4.33 and $10.24 over the past 12 months.  AMD shares are now trading with a P/E Ratio of 4 and EPS of 1.59.
Place your bets traders, its a gamble to see if AMD does get picked up by Oracle.  Should AMD not be acquired, expect AMD shares to fall like no tomorrow.