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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 215.32-0.2%3:59 PM EST
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To: Jim McMannis who wrote (48394)7/19/2001 5:52:19 PM
From: herb willRead Replies (3) of 275872
 
Jim: re: Otellini=Bser. I don’t know about that. Jerry made this incredulous statement in the conference call about Q2 sales.

“It was awful! It was the most nonlinear quarter in my memory, the customers were in a constant state of negotiation, renegotiation, reallocation, redistribution, when, what, and if to ship! It was, uh, much more that 50% of the units shipped in the final qua-er month”.

Ottellini = Bser? From the above statement by Jerry it is hard to figure out what the devil is going on over at AMD.

April and May should have been disastrous if that statement is true. Yet no change in guidance. Rumors abound that Jerry stuffed the channel to make Q2 numbers. AMD’s Accounts Receivable balance increased substantially at the end of Q2 from 602M at the end of Q1 to 728M at the end of Q2 an increase of $126M or 21%. While this increase is consistent with the Jerry’s over 50% in June sales theory it is also consistent with channel stuffing. What is the likelihood of over 50% of sales occurring in June and why wouldn’t July or August or September be good months if it were true. Was it a turnaround in June and no follow through? Are Jerry’s numbers friggin screwy or what?

Herb
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