Yousef,
Your analysis on AMD's net value is a weak attempt at driving down the AMD stock price. The typical value of a semiconductor company is 3 times revenue. AMD revenues were nearly $2.5B in 1997, and projected to be $5B in 2000.
Besides SDC, Fab 25, and FASL (Fujitsu AMD Semiconductor Limited), AMD has 3 other Fabs in Austin: Fab 10, Fab 14 and Fab 15. SDC cost $1B, FASL $1.2B, Fab 25 $1.4B, Fab 30 $1.9B and the other three Fabs are worth nearly $500M. AMD also has a large campus facility in Sunnyvale, a Distribution Center in Santa Clara, Test Facilities in Japan and England, and Assembly Facilities in Bangkok and Penang. And that's just real estate.
The real value of a company is in it's people, it's intellectual property (process technology, patents, etc.) it's equipment, etc... And AMD also has a wholly owned subsidiary called Vantis with other $300M in revenue.
So therefore I think your analysis is weak. Granted you know alot about process technology, but please leave financial analysis to the experts.
Profits |
