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

To: kapkan4u who wrote (46499)	7/7/2001 11:20:38 AM
From: milo_morai	Respond to of 275872

<font color=blue>ON24 Macro Environment vuwin.on24.com A good listen. Milo

To: kapkan4u who wrote (46499)	7/7/2001 5:38:04 PM
From: Dan3	Read Replies (1) \| Respond to of 275872

Re: . In the next 3-4 quarters AMD will have to bite the bullet and make all the necessary expenditures. Why would you think that? 2 quarters ago when the markets were still looking pretty good to AMD, they said they were reducing their CAPEX because they had already made much of the investment they needed for the next several years. AMD has finished installing sealed POD wafer handling lines and SOI implantation expansion. They will continue spending at a reduced rate at Dresden (and even a little at Austin) as they finish equipping the Dresden lines and upgrade lines at both FABs. But, overall, AMD had planned on reducing CAPEX prior to the semi collapse - they just don't need any more than what they've already built. Dresden was set up to go to .10 or better, and Dresden is set up to take AMD to SOI. AMD is very, very, well set up to hunker down and wait out this storm of a semi downturn. In 1 1/2 to 2 years, when the semi markets are strong again and the 157nm generation is ready to be put into place, AMD may be in a considerably better position to fund it than Intel is - which would be a stunning turnaround. Dresden has been running sealed environment PODs and copper for almost 2 years, their SOI line is being brought up. A (relatively) inexpensive change to 157nm steppers will take them to .1 or .09. Intel is just now learning mass production with PODs and copper. They haven't begun any implementation of SOI and will need substantial additional CAPEX to get beyond .13 on plain copper. Dan