Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 233.54

-1.7%

Nov 7 3:59 PM EST

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To: tejek who wrote (18574)	11/10/2000 2:39:59 PM
From: Maverick	of 275872

HQ upgrades AMD to BUY,tgt $35 RATINGS CHANGES * Advanced Micro Devices (AMD) $21 - $7.4B mkt cap: Positive Analyst Meeting and Outlook; Upgrading Stock to Buy from Market Perform Analyst: Sudeep Balain 415-371-4409 · The company remains optimistic about future prospects and did not lower Q4:00 or fiscal year 2001 estimates. · On the PC front, the company estimates 2001 unit demand to grow in the range of 15% to 17% y/y. We believe that the company's current strategy to deliver superior product performance at competitive price points as compared to Intel, (INTC, $41.50, B) should allow the company to not get entangled in a price war. · We believe the company is well positioned to compete with Intel's scheduled release of the Pentium IV by going into full production with its Palomino and Morgan products by Q1:01. Furthermore, the company's roadmap regarding its Hammer family (64 bit architecture) should allow the company to start penetrating the server market place in the 2H:02 timeframe. · The company continues to execute flawlessly in the flash market segment. The current dislocation between supply and demand of its premier products is forecasted to continue until 2002. · We are raising our rating on AMD from a market perform to buy and are reiterating our price target of $35. We are leaving our current Q4:00 and 2001 revenue and EPS estimates intact. · We believe the company's current valuation pretty much discounts any further inventory overhang in the supply chain and any further damping in demand expectations in the PC market moving forward. As such, we believe this is a good entry point for an investor with a long term horizon. cnetinvestor.com

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