Jules, Glad to see the bear is back. My answers to your questions:
-- Why IBM has excess semiconductor manufacturing capacity in the first place?
Why are you assuming excess capacity? Isn't it possible that more capacity can be put on line? It seems clear to me that capacity is being increased by IBM.
-- How much it will cost IBM in the division of management's time and personnel talent, to support multiple PC products?
Unless IBM has gone nuts, one would assume that costs are more than covered.
--How IBM, and its partners, will be able to sell x86 parts at 25% less than Intel and still have margins enough to support meaningful profits for both AMD and IBM?
Intel has huge margins. 25% less than Intel margins would support a very satisfactory profit.
--What will the closer ties with AMD do to the existing and future relationships of AMD's customers, now that they are IBM's new, and in some cases, more fortified competitors, (CPQ, EDS, Fugitsu, etc.)?
My impression of the "fortified" competitors was they were underperforming IBM. Their announcements/warnings and stock prices would seem to support my view.
Long IBM. Good luck with your investing. Scott
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