Advanced Micro Devices (AMD) shares hustled up 5 13/16, or 14 percent, to a 52-week high of 47 5/16 on Monday after rolling out the first 1GHz microprocessor, a chip capable of executing one billion instructions a second. AMD and chief rival Intel have been locked in a clock speed battle since 8 August, when AMD announced its Athlon processor at 650MHz. The chip has since been able to consistently outpace Intel's Pentium III in what has become a race to the landmark 1GHz speed. Analysts said the chips won't be available in big volumes after they are launched, and that only a handful of PC makers are likely to announce products designed for 1GHz processors. AMD said it would immediately begin shipping its chips to its two largest manufacturing partners -- Compaq Computer and Gateway. Intel shares fell 7/8 to 118 3/8 in midday trading. Compaq said it will sell computers with AMD's 1 GHz chip with prices starting as low as $2,000 (£1,240) up to $3,300 (£2,046), with the typical price around $2,499 (£1,549). Gateway said its new boxes will begin pricing at $2,999 (£1,859). AMD priced its 1GHz processors at $1,299 (£805) in 1,000 unit quantities and said it plans to begin shipping the high-speed chips to all other computer makers in April. Last quarter, AMD shocked Wall Street when it beat the street's fourth-quarter earnings estimate by 42 cents (26p) a share. In the quarter, AMD raked in $65m (£40m), or 43 cents (26p) a share, on sales of $969m (£600m). Fourteen of the 22 analysts tracking the stock maintain either a "buy" or "strong buy" recommendation. First Call consensus expects the company to earn 42 cents (26p) a share in its first quarter and $2.13 (£1.32) a share in the fiscal year. What do you think? Tell the Mailroom and read what others have to say. See techTrader for more technology investment news, plus quotes and research. See Inter@ctive Investor for US tech investor news.