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

To: ptanner who wrote (82650)	6/16/2002 7:14:56 PM
From: Dan3	Read Replies (2) \| Respond to of 275872

Re: For AMD the average term is 4.4 years compared to 3.6 years for Intel I think you're missing the capital leases that AMD uses to finance a significant part of it capex. To calculate how much capex AMD is expensing each quarter, you have to add capital lease payments to depreciation to get the total. And an average from 1996 to 2002 is not meaningful in the context of this discussion. Intel was pretty good about this stuff in the past, what is scary is that outlays were approximately double recognized expenses for about 2 years - the two years of supposed Intel profits that are being questioned.