Advanced Micro Devices Inc (AMD)

[kpf]

I_banker

D'accord.
However, as there are no reserves visible for the issue, the settlement has a cost impact in 2004. As I dont know any details, this could be anything from nothing to 10m USD in Q1.
Taking intransparent contractual relations between AMD and Fujii into account (which leave room for another 20m plus or minus for the minority interest position in AMDs books) it is nothing short of impossible for any Analyst to model this quarters earnings, even if he had excellent grip on revenues, costs and inventories.

Heck, cornered like this, it is pretty understandable these guys are very cautious on AMD figures. I would be, on an analysts seat.

Assuming AMDs management is acting (to be precice: not acting) fully intentional here, there seem to be issues to be resolved for which low forecasts are helpful. The fact we have not seen any insider buying for quite a while, even after a shame period following the ESOP-exchange, could be considered as a supporting signal there still is something.

Or, as somebody has put it wrt my signature:

"AMD does not care about its investors"

Anyway: This all is pretty irrelevant in an investment horizon longer than couple of weeks or months. Could well be that Hector deliberately wants to shake out short-term capital of the stock to prevent the common the roller-coaster moves of the past.

K.

K.