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Thursday, July 07, 2005 9:27:45 AM
Dan, in yet another case of AMD doing it to it’s stockholders it is really tragic when you think about the problems AMD is having with Spansion. Just a year ago AMD management was telling stockholders like you that Spansion was doing great and the future was looking great. This statement is taken from the conference call for Q1 04 just a year ago.
“As I mentioned in my prepared remarks, MirrorBit is
an incredibly powerful technology, it's simple, elegant, easy to manufacture, in relative terms, because nothing is easy in this business. But-- and so we're really looking forward to that.
The combination of all these things give us confidence that
quarter after quarter, we'll see an improvement in our margins
in flash.”
And
“Our Spansion flash memory operation is an excellent example
of this winning combination. In the first quarter, we enjoyed
record revenues in flash, as we continued to expand our market
leadership position in the [newer] flash memory segment. The
products based on our revolutionary MirrorBit technology
continue to earn strong customer acceptance.
We continue to strengthen our solid relationships with our top
customers around the world, resulting in our especially strong.”
AMD after telling this to its stockholders like you is now in a snit to jettison Spansion. Margins are zero. Losses unabated. A total disaster. Yet you continue on with your daily dose of FUD.
UBS believes that there is a material risk that the AMD IPO of Spansion stock could be delayed because of continued losses and looks for the AMD stock price to sink. AMD while only a year ago was extolling the virtues of their flash operation now has a tiger by the tail.
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