Makes me hit my head on the table wondering why AMD doesn't do the
same thing...at some point architecture goes out the window to
functionality.

Fear
We are not as smart as we think we are.  The stock is in a downward
movement powered by the negativity of holders.  It is not our opinion
that matters any way, the people with money make the stock move.
Unless you have over $50 million dollars to cause any type of impact
on the movement of this stock, your thoughts really won't matter, not
to be rude.  It is simple, think like those who are in position to
cause volatility on the stock.  Obviously, there are political,
emotional, social, and monetary factors going into the decision of
these people's brain.
OK, here are some quotes by the Oracle of Omaha to clear your mind
before making a decision.  Does AMD the company and the timing of the
market feel right to you after reading these sayings?

"Only buy something that you'd be perfectly happy to hold if the
market shut down for 10 years"

"Wide diversification is only required when investors do not
understand what they are doing."

"Investors should remember that excitement and expenses are their
enemies. And if they insist on trying to time their participation in
equities, they should try to be fearful when others are greedy and
greedy when others are fearful."

Hope this helps, and happy holidays!

Not to me.  Let me put it succinctly (most of these points have been
true for months, and the Phenom launch only clarifies their
unfortunate situation further):

AMD has over $5 billion dollars in debt, has reported very significant
losses for the last 3 consecutive quarters, has insufficient cash on
hand to fund operations until their next product release cycle
(Fusion), loses money every time they sell a CPU, current product
lineup is already very late for delivery, is currently experiencing
serious supply & yield issues for a launched product (Barcelona),
historically has an oversupply of parts in Q1, has maybe 5 weeks to
turn it all around, and as recent product reviews have shown, can't
compete with Intel in terms of performance or power consumption (they
are also choosing not to compete in terms of price - per the Phenom
launch).  In addition, senior executives have recently jumped ship in
the same time frame as the Barcelona product launch, which I read as a
measure of the internal confidence level they have in their latest
product.

Unless something drastically changes very soon, they're headed for
bankruptcy.

The stock fell because Hector may leave, AMD may go fabless, and
errata in the 2.4ghz processor. Only rumors but maybe all true as the
ones pushing the stock down know better than most.

AMD fabless. Stock value $2. They'll generate some cash but they'll
end up with VIA

I'm guessing the people who are holding the price at $10 believe in
Santa Claus and the Easter Bunny. The company is gushing money at a
phenomenal rate with economies of scale against them they don't have
much to play with in terms of lowering prices. The one thing that
might keep them afloat is their new high|(actually mid-range compare
to NVIDIA) because of the price scale they are being offered at. They
desperately need to make some kind of deal with a major computer maker
and sell as many cards as possible to keep some operating revenue
coming in. I wonder how they expect to work out that equation I just
pointed out. One thing that is also lacking is Marketing spin on the
mainstream side to get people to buy their CPU's via major makers like
DELL or HP.

One thing that they might be able to also do  is get
investors*coughs*suckers*coughs* from ASIA particularly China to
invest and provide them with the operating revenue they need till
Fusion is released. They can also ally themselves with Lenovo and
workout some arrangement.