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Politics : Formerly About Advanced Micro Devices

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To: Charles R who wrote (79558)	11/11/1999 9:44:00 PM
From: kash johal	Read Replies (2) of 1574096

Charles, Re: Flash Biz, Just a few comments from me on the presentation: 1. The flash did a great job of showing the enormous amount of capacity AMD is bringing to bear with FASL and the 2 additional Fujitsu Fabs as well as Fab 25 in 2001. 2. The flash guy did a great job of explaining some of the product complexities and how it is not just another memory product ala DRAM. They should do close to $300M in flash in Q4 99, they are forecasting a 70% growth next year that translates to $500M in flash alone for Q4 2000. If the idiot analysts can get the message then we could see high thirties as soon as tomorrow. Also there was some additional commentary that K6's were sold out for Q4 and that HP will be introducing Athlon PCs pretty soon. Overall excellent execution by AMD so far, IMHO. As far as valuation of flash biz: profitable business with 70% annual growth should have a pretty high multiple on sales. I see a $1Bn dollar business with that growth rate having a $5-6Bn valuation so Jerry is absolutely correct that Flash is worth more than AMD's market cap right now. Hell I just raised my sell targets for tomorrow to high 30's. Best of Luck everybody tomorrow. regards, Kash

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