AMD announced 2nd quarter losses of 1.2 Billion $ -- the 7th quarter in a row with losses. Their CEO resigned. He's being replaced by Dirk Meyer, an engineer and AMD employee. As some news state, the change in CEO won't really change anything. Their stock just went down 12% too. It's not looking good for AMD.
And again, nehalem is just around the corner, etc.
Multiple news sources