Advanced Micro Devices Inc (AMD)

[CombJelly]

"cash flow from operations was $240M for the quarter, up from the $206 level in Q1. "

That is excellent news. Remember that Q2 is the slowest quarter. This last CC was probably the worst one I've ever seen. It was about as content-free as anything I have ever experienced outside of TV. It is a puzzler, because there was all kinds of good news sprinkled throughout. K8 sales apparently are much better than anyone has discussed. Yeah, K7 ASPs suck, and they aren't going to improve if history is anything to judge by. But that's ok, they aren't going to be around all that much longer. Despite the feelings of some, it doesn't look like Intel took meaningful marketshare from FASL as far as flash. By meaningful I mean that Intel may have gained ground in low density flash, it doesn't look like FASL lost any of the higher density marketshare.

It also looks like AMD managed to take a little more processor marketshare from Intel.

True, the window had opened for AMD in Q2 like it hasn't been in a long time. Some think they failed to take advantage, but there isn't any real sign they didn't. It takes time to exploit an opening. Intel seems to be stuck in the same hole they are now for another couple of quarters, maybe more. If AMD isn't in a significantly better position by the end of the year, then they missed the brass ring again. But for now, they have a good shot...