AMD Stock Downgrade ... I Have the Analyst's Report

[Midnight Rambler]

Anybody want's a copy, I have it (in .TXT format). This is not some BS from a financial website, forum, or any other crap. It's the actual analyst's (John Joseph from SSB) report that caused the semi market to crash today.

Mainly the reason is for their exposure to FLASH memory, which is 30% of AMD's earnings, as you can read at many financial web sites or hear on the news, but this report is very detailed and gives numbers, etc. Says they are still on track with CPU's to ship approx. 12M units this year. May be a buying opportunity in the next few days, esp. with the stock split still ahead of us ...

Send your email addy to darambler@yahoo.com, I will reply with the report attached.

 

[Ulysses]

Here is from GuruNet re AMD (not a topical analysis):

AMD is the second largest maker of personal computer microprocessors after Intel. They also make flash memory, integrated circuits for networking devices, and programmable logic devices. AMD reports that it has sold over 100 million x86 (Windows-compatible) microprocessors. In mid-1998, its new AMD-K6 microprocessors were rated equivalent in performance to Intel's Pentium II microprocessor but cost considerably less. 1997 revenues were 2.4 billion dollars (US) and the company had 12,400 employees worldwide. Its K-7 microprocessor, expected in the first half of 1999, will apparently be the first to support a 200 MHz bus.

Founded in1969, AMD along with Cyrix has often offered computer manufacturers a lower-cost alternative to the microprocessors from Intel. AMD develops and manufactures its processors and other products in facilities in Sunnyvale, California, and Austin,Texas. A new fabrication facility for the AMD-K6 will be opened in Dresden, Germany, in 1999.

The low cost of AMD's K6 microprocessor was a contributor to lower PC prices in 1998. Reviewers generally rated it equivalent to or slightly better than the comparable Pentium microprocessor from Intel. AMD says that, in addition to offering "the first mainstream 200 MHz system bus," the forthcoming K7 chip will include a superscalar pipelined floating point unit, a programmable L2 cache, and operate at clock speeds faster than 500 MHz. The K7 will use AMD's existing 0.25 micron technology.

Here are AMD's other major product areas:

Flash Memory
Flash memory retains data when you turn a computer device off. AMD makes flash memory units that require little power ("low-voltage, zero-power&quot and can be used in battery-operated hand-held devices (including wireless communications for cellular phones), network devices, set-top boxes, automotive engine control, and embedded control storage for scientific instrumentation and medical devices. Features in AMD's flash memory include embedded algorithms, guaranteed minimum 100,000 program/erase cycle endurance, sector architecture, and a single-power-supply. AMD is a partner with Fujitsu in making flash memory.
Integrated Circuits for Network Devices
AMD makes linecard integrated circuits for telephone switches, devices for wireless local loops, digital cordless telephone circuitry, and Ethernet controllers.
Programmable Logic Devices
AMD makes microprocessor and memory devices that can be programmed for individual applications and embedded in devices. Its E86 line of embedded processors are compatible with its x86 microprocessors and can be programmed to control smart telephones, industrial machines, cameras, and other applications.

 

[Ulysses]

MARKET DATA Nyse
Last Trade 75 1/4
Point Change -9
% Change -10.68
Volume 8,921,600
Previous Close 84 1/4
Open 75
Today's High 77 11/16
Today's Low 72 1/2
52-Week High 97
52-Week Low 15 5/8
EPS 1.43
P/E 58.92
Market Value 11,528mil
(Delayed 20 minutes)
Source: S&P Comstock

 

[NuovoTech]

Anyone know if AMD has announced a split yet? ie what day?

 

[Midnight Rambler]

The split has already been approved by shareholders. I imagine they will formalize it when they make their next earnings announcement/conference call for Q2.

 

[JCholewa]

MidRam: Wasn't it merely the authorized share quantity and not a split itself which was voted through?

If I am not mistaken (and I could easily be), I believe AMD has hit its local low and is now recovering from this report. At least, I hope so. I grabbed a quick hundred shares for a greedy short-term trade. If it spikes back up like it did last time it dropped like this, I could buy me a new PC with the proceeds <greedygrin>.

-JC