Despite Bill Gates positive references to AMD and AMD64, here's what we're up against:
Fox News Channel -- Bulls and Bears
Saturday, May 10 2003 at 10:28 AM
brenda: Pat, you follow up here well, I'm kind of frightened because I sort of agree with gary particularly on advanced meek ro devices a m d -- advanced micro devices, a m d -- they cannot beat intel their r&d is just a fraction of intel s, and intel keeps pricing them out of the market and they haven't made money in the past decade, all their money comes from debt issuance, forget about it, the biggest short we have.
brenda: Gary K, a horrible company. If the semis goes up it goes up less, if the semis go down, it goes down more. They lose money hand over fist, no reason to own it.
Garry, don t sugarcoat it now i want to go back to gary b and thank him for hedging perfectly...
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Actually, AMD's HAS made money in '93, '94, '95 and 2000.
Combined over, the 10 years 1993-2002, they have net income of $54 million. That includes all special charges and special gains.
But for such a long time period, it is better to examine what has happened to shareholder's equity, i.e., "book value." At the beginning of 1993 it was $1.15 Billion.
At end of Q1, 2003 its at $2.36 Billion. Admittedly, this includes at least $0.5B of stock sales via convertible debt being called.
But the real numbers tell a different story than lying short-sellers.
Petz |
