San Francisco analysts Robertson, Stephens & Co have raised their rating on Advanced Micro Systems Inc from market performer to long term attractive, based on AMD’s return to profitability for the first quarter (CI No 3,135). The firm projects shipments of 3.3 million K6 chips in 1997 and 14 million in 1998, and has raised earnings estimates for both years by 23% and 44%, respectively. AMD shares responded poorly to the news, finishing the day down $1.625 at $41.75.
