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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Mani1 who wrote (88373)	1/19/2000 9:35:00 PM
From: Bill Jackson	Respond to of 1572942

Mani, It has been known to happen as people in the assorted brokerage houses do not watch what they are doing with care. A house that has shares that it can lend might make that known to several others and each shorts those shares. Unless they have a real time tally system they can get caught short. I have read of this happening in the past...perhaps with modern systems it is less likely? Bill

To: Mani1 who wrote (88373)	1/19/2000 9:36:00 PM
From: Y. Samuel Arai	Read Replies (1) \| Respond to of 1572942

Advanced Micro's 4th-Period Net Income Rocketed Past Estimates to $65.1 Million By KHANH T.L. TRAN and DEAN TAKAHASHI Staff Reporters of THE WALL STREET JOURNAL Advanced Micro Devices Inc. reported fourth-quarter earnings that blew past Wall Street's expectations, as strong demand for its Athlon microprocessor boosted revenue and helped it regain market share from rival Intel Corp. The Sunnyvale, Calif., company said its net income soared to $65.1 million, or 43 cents a diluted share, from the year-earlier $22.3 million, or 15 cents a share. Analysts' consensus estimate was for earnings of one cent a share, according to First Call/Thomson Financial. Revenue grew 23% to $968.7 million from $788.8 million a year earlier. The performance is a remarkable turnaround from the company's staggering $105 million loss in the third quarter. W.J. "Jerry" Sanders III attributed the comeback to strong sales of Athlon chips, which are fast enough to match Intel's top chips. The company shipped more than 800,000 Athlons in the fourth quarter, allowing it to top its goal of one million for the year. Sales of flash memory chips and communications chips were also strong. "The key for AMD is execution going forward," said Ashok Kumar, an analyst at US Bancorp Piper Jaffray in Menlo Park, Calif. "This quarter all the stars were aligned. What Wall Street wants now is some consistency." The results were released after the New York Stock Exchange closed at 4 p.m. Wednesday, at which time shares of AMD stood at $41, up $2. After-hours trading was halted, although by 6 p.m. the shares were trading again, at $39.1875, down 31.25 cents. AMD has made some significant gains in recent months. It regained Gateway Inc. as a customer after losing it to Intel in August. Gateway had been upset with AMD's ability to deliver fast chips earlier in the year. But in the past quarter, Gateway suffered from its reliance on Intel as it was unable to get enough chips. The company has also begun denting Intel's image in microprocessors, as both companies began leapfrogging each other in chip performance. For a brief time in December, AMD had the fastest microprocessor in the PC market as Intel struggled to ship its 733-megahertz chips. Intel retook the speed title with an 800-megahertz chip, but AMD has since matched that speed. AMD also regained some market share in the fourth quarter. AMD had 16.6% of the market, the highest level in a year, up from 12.6% in the third quarter. Intel slipped slightly, with fourth-quarter market share of 82%, compared with 83.7% in the third quarter. AMD also saw its average selling prices for the Athlon chips and its K6-chip family rise in the quarter to about $80 in the fourth quarter from $65 in the third quarter. Mr. Sanders said prices stabilized for AMD, growing to the $80 range in the fourth quarter from $65 in the third quarter. Write to Khanh T.L. Tran at khahn.tran@wsj.com and Dean Takahashi at dean.takahashi@wsj.com