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

To: niceguy767 who wrote (12009)	10/7/2000 10:07:30 PM
From: Maverick	Read Replies (2) \| Respond to of 275872

ML:AMD Income Statement Summary. Anyone cares to dissect Q3 earning ? Excerpts fr ML 8/17/00. Anyone cares to dissect Q3 earning estimated by ML ? Remember that analysts normally lowball their prediction so that co. can beat it. I noticed that the Q3E rev is $1,239.8 M which might be at the low end as flash rev might increase by 12% seq. Also, the ASP for CPG might be $100 as more Athlons are sold than Duron. Fab utilization is pretty high translating into lower cost and depreciation. Expenses is also kept well in check as well. Table 1: AMD Income Statement Summary ($mill/%) Q199 Q299 Q399 Q499 Q100 Q200 Q300E Q400E FY99 FY00E FY01E Revenues 631.6 595.1 662.2 968.7 1,092.0 1,170.4 1,239.8 1,448.0 2,857.6 4,950.3 6,102.6 Cost of Sales 450.4 458.3 474.1 581.5 605.8 612.6 657.3 752.6 1,964.4 2,628.2 3,319.6 Gross Profit 181.2 136.8 188.1 387.2 486.3 557.9 582.5 695.4 893.2 2,322.0 2,783.0 Operating Expenses 287.3 291.8 287.1 315.4 305.6 307.7 316.2 354.8 1,214.1 1,284.3 1,403.6 R&D 159.9 167.3 157.6 150.9 161.3 155.7 161.2 181.0 635.8 659.1 671.3 SG&A 127.3 124.5 129.4 164.5 144.3 152.0 155.0 173.8 578.3 625.1 732.3 Op Income -106.1 -155.0 -99.0 71.7 180.7 250.2 266.3 340.6 -320.9 1,037.8 1,379.4 Non-op Inc (Exp) -10.0 -10.8 -11.3 -5.4 9.6 8.7 0.0 0.0 394.5 18.4 0.0 Pretax Income -116.1 -165.9 -110.3 66.3 190.3 258.9 266.3 340.6 73.6 1,056.1 1,379.4 Provision for Taxes 0.0 0.0 0.0 0.0 0.0 51.8 53.3 68.1 167.4 173.2 427.6 Effective Tax Rate 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net Inc bef JV Equity -116.1 -165.9 -110.3 66.3 190.3 207.1 213.0 272.5 -93.7 882.9 951.8 JV Equity Income -2.7 4.0 4.7 -1.2 -1.0 0.0 1.0 1.0 4.8 1.1 1.0 Net Income -118.8 -161.8 -105.5 65.1 189.3 207.1 214.0 273.5 -88.9 884.0 952.8 Earnings per Share (0.81) (1.10) (0.72) 0.43 1.15 1.21 1.23 1.54 (2.21) 5.13 5.25 Shares Outstanding 145.9 146.9 147.4 152.8 171.9 176.2 179.2 181.0 147.1 177.1 183.0 % of Revenues Cost of Sales 83.1% 77.0% 71.6% 60.0% 55.5% 52.3% 53.0% 52.0% 68.7% 53.1% 54.4% Gross Profit 28.7% 23.0% 28.4% 40.0% 44.5% 47.7% 47.0% 48.0% 31.3% 46.9% 45.6% Operating Expenses 45.5% 49.0% 43.4% 32.6% 28.0% 26.3% 25.5% 24.5% 42.5% 25.9% 23.0% R&D 25.3% 28.1% 23.8% 15.6% 14.8% 13.3% 13.0% 12.5% 22.2% 13.3% 11.0% SG&A 20.2% 20.9% 19.5% 17.0% 13.2% 13.0% 12.5% 12.0% 20.2% 12.6% 12.0% Op Income -16.8% -26.1% -14.9% 7.4% 16.5% 21.4% 21.5% 23.5% -11.2% 21.0% 22.6% Non-op Inc (Exp) Pretax Income -18.4% -27.9% -16.7% 6.8% 17.4% 22.1% 21.5% 23.5% 2.6% 21.3% 22.6% Net Inc bef JV Equity -18.4% -27.9% -16.7% 6.8% 17.4% 17.7% -3.3% 18.8% -3.3% 17.8% 15.6% YoY Change Revenue 16.8% 13.0% -3.5% 22.8% 72.9% 96.7% 87.2% 49.5% 12.4% 73.2% 23.3% Gross Profit 54.5% 0.3% -28.5% 26.2% 168.4% 307.9% 209.7% 79.6% 8.5% 160.0% 19.9% Pretax Income NM NM NM NM NM NM NM NM NM NM 30.6% Net Income NM NM NM NM NM NM NM NM NM NM 7.8% Source: Merrill Lynch Estimate

To: niceguy767 who wrote (12009)	10/8/2000 12:05:52 AM
From: Paul Engel	Read Replies (1) \| Respond to of 275872

Re: "The reality is that AMD has assumed price/performance product lineup leadership " AMD has ALWAYS held this Price/Peerformance lead - simply by offering the LOWEST PRICES -throughout their 30 year history. So what's new, SpryGuy? Re: "more one can almost see the gleam in Mr. Sanders eyes as he sets his Y2001 sights on the very, very large and lucrative mobile, workstation and server spaces..." He's had that gleam for several years now. And Intel has owned those market segments for even longer. The longer AMD slips their schedules, the MORE ENTRENCHED Intel becomes. Further - the low end is now opening up to TransMeta. So, The AMD Kmart Discount business strategy will have to deal with TransMeta - as well as Intel. I'm sure Sanders won't mind selling his Dupalons at a loss - just so SpryGuy can claim some minimal market share in these segments.

To: niceguy767 who wrote (12009)	10/8/2000 12:15:20 AM
From: DRBES	Read Replies (1) \| Respond to of 275872

re: "I'm sure Sanders won't mind selling his Dupalons at a loss - just so SpryGuy can claim some minimal market share in these segments." FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! FUD! The more he tries to spread it; the better I feel! PATIENT REGARDS, DARBES