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

To: tejek who wrote (79538)	5/6/2002 12:21:02 PM
From: wanna_bmw	Read Replies (2) \| Respond to of 275872

Ted, Re: ''We're looking at a relatively flat second quarter. I don't think you're going to see any substantial uptick in the industry until corporate profits increase and you see investment in corporate IT infrastructure,'' Barrett said. It's bad news in general, Ted. But I agree that Intel's lead over AMD is more of a moral victory, rather than a practical one. I hope things turn around soon. wbmw

To: tejek who wrote (79538)	5/6/2002 12:26:41 PM
From: maui_dude	Read Replies (1) \| Respond to of 275872

Re: [Barrett said]"We're looking at a relatively flat second quarter." I wonder that if that should be interpreted as not-so-bad news, if he mean 'flat' as compared to first quarter. (Given that the seasonal trend is - Q2 5-10% lower than Q1). In addition improving margins should help Intel a bit with their profits. Plus Flash might help both Intel and AMD. Maui.

To: tejek who wrote (79538)	5/6/2002 2:24:55 PM
From: John Stopforth	Read Replies (1) \| Respond to of 275872

tejek Re: U.S. gross domestic product grew at an annual rate of 5.8 percent in the first quarter, its fastest pace in more than two years. Is it just me or does the 5.8% annual growth rate reported in the first quarter seem a bit high? Are those numbers subject to revision? From what I've seen on the stock market and from the news media I don't see that rapid a growth. Maybe in the housing market but definitely not in the high tech industry. John

To: tejek who wrote (79538)	5/7/2002 2:54:37 PM
From: Monica Detwiler	Read Replies (1) \| Respond to of 275872

I guess you must have missed this article this AM..........Hector and Jerry think the world is flat. Sorry, no, Hector and Jerry say AMD's second quarter will be worse than flat....and boring. How come? Ain't the Athlon doing the trick, along with those "World Class Yields"? They have to lay off more employees to prevent their Quarter 2 loss from exceeding prior estimates? {======================} AMD to cut about 800 workers Loss of 200 jobs at newer plant wasn't expected austin360.com AMD to cut about 800 workers Loss of 200 jobs at newer plant wasn't expected By Kirk Ladendorf AMERICAN-STATESMAN STAFF Tuesday, May 7, 2002 Advanced Micro Devices Inc. will tell nearly 800 chip manufacturing workers in Austin this week that they're losing their jobs, people familiar with the company said Monday. The job cuts are expected to hit nearly 600 workers at the company's older chip factories, Fab 14 and 15, which are expected to close in June. The company first announced the closing of those factories, which primarily make communications-related chips, in September. AMD cut about 400 jobs at the older factories in November. But this week AMD will also notify an additional 200 workers at a newer facility that their jobs will be eliminated. These employees work at the company's newer Fab 25 factory. Fab 25, which formerly employed about 1,000 people, is being converted from making processor chips for personal computers to making less complex flash memory chips, which are used in cellular phones and other products. Because flash memory manufacturing is less complex than processor manufacturing, AMD has said it would need fewer workers at Fab 25, the company's only remaining chip factory in Austin. AMD said the upcoming job losses at Fabs 14 and 15 have been common knowledge for months. The company declined to comment on the job cuts at the newer facility. The job cuts are another sign that the economic recovery has yet to take hold in many sectors of the Central Texas economy. Even though the worst of the semiconductor industry's disastrous 2001 slump is over, a vibrant recovery for the sector is nowhere in sight. Chip makers such as AMD are having to reduce expenses sharply in the face of continuing slow demand for such products as personal computers. AMD, which is locked in a ferocious battle with archrival Intel Corp., is not the only company affected. Since the start of 2001, more than 3,600 semiconductor jobs have been lost in Austin. Motorola Inc., which is attempting to bolster its slumping chip business, said early this year that it would cut about 900 Austin jobs this year, in what company officials hope is the last cycle of job cutting required before its business starts to recover. AMD's job cuts will reduce its Austin employment to about 3,000 people, down from more than 4,000 a year ago. The conversion of AMD's Fab 25, which is expected to be complete in the third quarter this year, is expected to extend the productive life of the factory by several more years. AMD, which posted record profits of $983 million on sales of $4.64 billion in 2000, has been hurt by rapidly falling prices for processors and flash chips in 2001. Last year AMD lost $60.6 million on revenue of $3.89 billion. The company reported a loss of $9.2 million on $902.1 million in revenue in the first quarter and said that it may post another loss in the second quarter. Chip manufacturing jobs are among the better-paying nonprofessional jobs in the Austin area. Entry-level chip workers make between $10 and $11 an hour. Experienced chip manufacturing workers can make between $35,000 and $40,000 a year, industry analysts say. Austin remains the headquarters of the company's personal-computer-processor business, where PC processors are designed, marketed and sold. Austin also is the base for the company's new personal-connectivity-solutions business group, which makes low-power processors for hand-held computers and other devices. kladendorf@statesman.com; 445-3622