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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: Petz who wrote (3896)	8/7/2000 3:33:19 PM
From: Maverick	Respond to of 275872

HQ:says AMD is incredible BUY opp,tgt $150 AMD:Recent Sell-Off Unwarranted; Reiterate Our Strong Buy & $150 Target * The company's stock has been under pressure in the last 2 days on market worries regarding current flash supply vs demand dynamics deteriorating based on comments eminating from an executive at Cisco (CSCO,$61,Strong Buy) at the recent Optical conference - Opticon 2000 in Burlingame, CA. These comments have also appeared in a recent story on Bloomberg. The net of what was said is that Cisco has seen the supply of flash improve dramatically recently. * What the market construed from those comments were worries that the general availability of flash has dramatically gotten better. We believe that is not the case. We believe what is really happening here is that since Cisco is a large and very important customer of the company (Cisco signed a 3 year $450M flash agreement with AMD in 1Q:00), Cisco is getting a "generous allocation" and an "unfair share" of their flash requirements from AMD. A healthy flash availability environment at Cisco does not mean, in our opinion, that the overall market for flash has improved any in the recent past. * We believe this current flash related misunderstanding in the marketplace as it pertains to the weakness in AMD's stock should be viewed as an incredible buying opportunity. * We are reiterating our Strong Buy and our $150 price target.