Some sketchy CC notes, in between other stuff:
MicroP and Flash on track for the Q, comm slow. Seasonally stronger 2H still predicted. Predicted in April, 6.2 to 6.8, GM 49%, looking about same, little lower.
Qs:
Missed 1st Q.
Back to school season? Not worried about cancelations, can't say a lot more. This June looks about like June of last 5 years.
Market share? Not losing any now and possibly gaining back what might have been lost in Q1. Said hadn't seen AMD's numbers, of course.
Inventory? Not a problem.
Niles: Geos? Like revs, no surprises. Bryant said he got a forecast right for once (about this Q). Not a disaster anywhere in the world, geos acting about as thought, routine biz.
Charles Boucher, Bear Stearns: Brookdale, P4 progress? Andy ducked, said he wasn't going to go into specifics on product lines (Otellini not there).
Flash? Inventories in pretty good shape. Sounded hohum overall.
Another Bear St. guy (Boston accent). H2 for other product lines? Inventories sound high for comm, need to be worked down.
Terry Ragsdale, GS: PC OEM commentary has been cautious. Why is Intel more "confident" Andy: Intel may have had lower expectations than the PC OEMs.
JJ, SSB: Q3? Trying to get Sept., Oct. forecast. Andy: 45 - 55% H1 - H2 split. Get your calculators out. JJ pressing, trying to get a Sept. forecast. Andy not predicting % to the month.
Tanaka? Product mix: Andy: don't address this. Went on to repeat, same-o same-o re Q2.
Osha: supply chain. Are customers ordering to meet demand, or are customers building inventory. Andy: we don't see any evidence customers are building inv., wouldn't make sense since Intel has pretty good inv. right now, can ship very fast.
Mosesmann: answered
Geraghty: new stuff? Andy: 0.13 doing fine, 300 mm coming along. Factories all doing "fine."
Q answered
Next guy's Q like Osha's: OEMs saying it's worse than Intel is. Comm, yes, but in PCs, Andy can only speak about his orders, can't speak for his customers. I think he asked a Q about an Inacom or something. Andy said they don't buy micros.
Headcount, other expense control? Big reductions in travel, etc. Cost of goods about the same.
Ragsdale again: pattern of orders? Normal. Back to school? Too early to tell, next 4 - 5 weeks will tell. Andy doesn't see anything saying BTS won't be OK. Seasonal Q2.
That's it. Andy very matter of fact, no emotion, almost sounded bored.
Tony |
