I've said before AMD was going down, and that management was who was taking them there (not the employees, always single out management). Of course they've laid off 30% of the engineers in the last 3-4 years so no shocker when crap products come from here on out (meaning everything after console has been affected, which we see) with 1/3 the people to do REAL work. I said consoles wouldn't save them, but rather it would detract from CORE products. Here we are. Nvidia passed saying this verbatim, stating winning consoles would detract from their core products (so true). It's not really rocket science to predict this stuff.
I don't think they can recover from consoles with no profits to R&D their way out of this fiasco. They will go down slow (progressively falling behind on gpu like cpu, see maxwell vs. tonga), or be bought. Freesync won't be as good as gsync, they're just hyping it to stop gsync sales for a few more months (arguably their best plan, I'd do the same I guess). Losing share in gpu will only get worse if more gsync monitors hit (coming shortly now) and pricing drops some as freesync comes out and shows why they were NOT testing tons of games at CES. They will continue to get squeezed by ARM-Intel race to the middle, and by NV in gpu who can afford to R&D on multiple shrinks, take some risks etc (lawsuits, gsync, car crap etc) while AMD just can't in cpu/apu or gpu (never mind needing to mount an attack on mobile). It's sad, but AMD has been screwed pretty much since paying 3x the price for ATI. Management has destroyed AMD in a decade, it just took years to see it all play out. The stock will probably see $2 before it sees $4 again if ever. They need to sell now while their IP is still worth something, before they are too far behind NV & Intel. A company with a few billion in cash for R&D after buying AMD could turn the company around quickly just by making sure their products keep coming on the latest process nodes/updated quicker, etc for a while.