Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: AK2004 who wrote (48214)	7/18/2001 11:36:17 AM
From: bacchus_ii	Read Replies (2) \| Respond to of 275872

RE:"As proof of Intel's current excess capacity, inventories increased to 139 days up from 105 days in the March quarter. " Hein!!! is it a typo or what... At that rate, all the rest of 2001 sell are almost in inventories. Do they write off old stock sometime? Gottfried

To: AK2004 who wrote (48214)	7/18/2001 12:18:57 PM
From: Petz	Read Replies (1) \| Respond to of 275872

Wit-less Soundview: * From a market share perspective, Intel's growth of more than 1 million units sequentially outpaced the roughly 450,000 units that AMD incrementally shipped. This supports our thesis that INTC's pricing actions are slowing AMD's momentum. Intel LOST MARKET SHARE! AMD GAINED market share! Another 4 quarters of that and AMD will be at 30%. Petz

To: AK2004 who wrote (48214)	7/18/2001 3:00:06 PM
From: heatsinker2	Read Replies (1) \| Respond to of 275872

Albert, Gottfreid, As proof of Intel's current excess capacity, inventories increased to 139 days up from 105 days in the March quarter. Any idea how Wit-Soundview came up with this? I looked at the balance sheet and I don't find this information.

To: AK2004 who wrote (48214)	7/18/2001 5:32:20 PM
From: ptanner	Read Replies (2) \| Respond to of 275872

Re: Analyst wrote "As proof of Intel's current excess capacity, inventories increased to 139 days up from 105 days in the March quarter." I am skeptical of this value. It is quite different than the DSO values (39 days down from 40) reported by Intel's nice financial spreadsheet summary or what I calculate from (total inventory) / (total Q revenue/90 days) = 40.7 up from 36.2. Corresponding value I calculated for AMD was 37 days up sharply from 27 days for prior quarter. And I probably shouldn't include raw materials but AMD doesn't provide this level of detail so I just used the total values for both in my numbers game. FWIW trivia... (Cash + Receivables) / (Current Liability + LT Debt) for AMD has improved substantially over last four quarters (convertible bonds helped a lot) while Intel's ratio has been declining: 3Q00 84% / 199% (AMD/INTC) 4Q00 77% / 188% 1Q01 86% / 167% 2Q01 97% / 158% I need to head back to the INTC thread sometime to followup on a possibly troublesome trend in AMD's numbers which I downplayed last quarter but persisted this quarter: growth in accounts receivable. INTC is in a much better position and or more capable of implementing good cash management (get paid fast, pay slow) and the favorable tax benefits from the salary -> options grant game & stock repurchase. <soapbox>A program fully allowed by current tax code and used by MSFT and others that I have some reservations about.</soapbox> I do support ESOP and options grants to encourage employee comittment/incentive. For all the heat Steve Jobs's massive ($900M ?) options "reward" there hasn't been much notice that they remain are deeply out of the money (granted at $87 presplit). -PT