That is true. But the problem there is the fact that immediately after the JPM rumor surfaced Rory chimed in saying that AMD was NOT being shopped. If he lied, that would be securities fraud of the highest order (a material false statement made with knowledge of its falsity), virtually guaranteeing a stay in a Federal penitentiary. Not even Read is that stupid.
Because you agree that AMD has engaged JPM, and because we know for a fact that it is not for purposes of selling the company, by process of elimination it must be for some other service that JPM is capable of providing. They could be trying to sell more shares and dilute existing shareholders, or to sell high interest rate, high risk debt instruments to try and float AMD for awhile, or they could have been hired to do something else they are good at - overseeing a Chapter 11 reorganization or a struggling, insolvent debtor.
Smart money is on a Chapter 11 filing or other work-out arrangement.
"But the problem there is the fact that immediately after the JPM rumor surfaced Rory chimed in saying that AMD was NOT being shopped."
When Dirk gave an interview where he said AMD was preparing to unload their fabs, AMD was quick to deny. HardOCP and others reported it extensively.
"AMD is denying a report that appeared in the Austin American-Statesman that contains an interview with new CEO Dirk Meyer that seemed to indicate that the chip maker was preparing to spin off its manufacturing facilities in Germany and sell its two fabrication plants, or fabs."