<< am seeing the response to this idea about the same as I got when I suggested right after earnings that the street is looking at revenues more than earnings for tech companies, and AMD's revenues were weak in spite of record earnings. >>
Would you consider the revenues weak? I wasn't elated, but if I recall correctly, 13% sequential growth, and 100% YOY growth (roughly) sounds pretty good to me. It certainly wasn't as astounding as many here hoped for though. The real trick IMO will be what revenue growth looks like in 2001. AMD becomes a table pounding buy if there continues to be YOY revenue growth in 2001 because the PE looks like it's assuming we shrink in 2001.
An interesting thing I've noticed on the thread, when were in Q1, there was a lot of sentiment like "Q1 will be good, but Q2 we'll finally get out thunderbird and duron, then we'll really kick butt". Then in Q2 it was "Q2 will be good, but once we get chipsets ready we'll really kick butt", and now we're in Q3, and you start seeing "Q3 will be good, but Q4 is when we'll really get it all together". By the collective wisdom of the thread, it's always the next quarter the stock price will jetison to the moon!
As for price cuts effecting the stock price it's as good a theory as any. Could be price cuts, could be lack of durons, could be fear of willy, could be the fear of the semiconductor cycle ending. Certainly isn't good for my wallet no matter how you slice it. |
