Partisanship aside, the article you posted summarizes my take on AMD's competetive position. For the foreseeable future flash looks to be a "boat anchor" around the neck of AMD's earnings. Worse yet, it's projected to only get heavier. It's not clear if AMD can ramp A64 production or if the upcoming Windows 64 release can\will stimulate demand enough to make up for the continuing decline of flash. If history (Q4) offers any lesson the answer is No, at least as far as investor expectations are concerned.
The only question I have is, "With this writing on the wall, why are we still trading in the mid 17's?"
All of which translates into tough times for AMD investors. That which once brought glory -- the company's flash division -- now brings pain. Until AMD finds a buyer or a turnaround strategy for its flash division or decides to split the company in two along product-division lines, it will experience earnings dilution and suffer Wall Street's wrath. The stock has risen 16 percent in the month and a half since AMD announced trouble in Flashland, and there's no real news to justify that increase. Investors are advised to sit this ride out.
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