wanna, <18 out of 18 analysts who cover AMD predicting a loss over the entire next year>
Well, two years ago, 11/15/99, AMD had just had a bullish meeting predicting that a profit was "possible" in Q4'99. Even after that the average of 8 analysts covering AMD for FY00 was only $0.50. [split adjusted]
Meanwhile, Intel was making noises about the "imminent" Coppermine CPU and i820 Rambus chipset, and all the analysts had earnings clustered between $1.25 and $1.35 per share.
The rest is history.
AMD posted earnings of $3.18 in FY2000, but about a third of that was from the sale of Legerity. Still, that is 536% better than the average estimate.
Intel, OTOH, posted earnings of $1.51, apparently above estimates, but 1/3 of that was non-recurring capital gains which, prior to FY'2000 no one had ever counted as being within their estimates. So Intel missed expectations slightly.
Data is from emails Albert Kovalyov sent me bewteen 11/1/99 and 11/15/99.
EDIT - Estimates and %'s have been adjusted to account for the 2:1 splits in the summer of 2000.
Petz |
