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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: DOUG H who wrote (4813)	2/10/2005 2:37:43 PM
From: Walkingshadow	Respond to of 8752

Gap down was professional. AMD guided down: Jan 11: Advanced Micro guides below consensus (AMD) 20.13 : Company issues downside guidance for Q4 (Dec), sees revs up slightly from $1.239 bln, Reuters consensus $1.35 bln, operating income is expected to be positive, but down significantly from Q3's $68.4 mln; company reported earnings per share of $0.12 in Q3, Q4 Reuters consensus is $0.19. "The Computation Products Group (C.P.G.) continued its upward trajectory and fourth quarter sales are expected to increase compared to the prior quarter. C.P.G. is expected to be profitable. In a competitive and challenging N.O.R. Flash memory market, the Memory Group is anticipated to have lower fourth quarter sales and an operating loss". The co's prior guidance for Q4 anticipated overall sales to increase, driven by processor sales that exceeded seasonal trends, and Flash memory sales that were flat to up. Then, on Jan 18 AMD missed: Jan 18: Advanced Micro misses by $0.01, ex items, sees flash sales down, processor sales flat to down slightly (AMD) 15.50 +0.34 : Reports Q4 (Dec) earnings of $0.05 per share, excluding a $0.13 charge, $0.01 worse than the Reuters Estimates consensus of $0.06; revenues rose 4.8% year/year to $1.26 bln vs the $1.26 bln consensus. "Based on the strong acceptance of AMD64 technology, AMD expects its processor momentum to increase as the year unfolds. In the first quarter, AMD expects processor sales to be flat to down slightly in the typically seasonally down quarter. AMD expects Flash memory sales to be down in the first quarter due to continued imbalance in supply and demand, continued pressure on ASPs and seasonality". Then there was the usual crowd of analysts closing the barn door after the horses ran away... downgrades, with one upgrade with a price target of $10 for some incomprehensible reason. Maybe a time warp---AMD hasn't traded as low as $10 since Sept. 2003. Great call. Thank God we have analysts. T