bobs, if I read that correctly, AMD is trading at a forward P/E of around 20, INTEL about 15 (Y2007). That looks pretty fine from a valuation standpoint to me. And who knows, analysts could even be conservative (or not but the consensus is the consensus). Certainly nothing outrageous here.
What I would really like to know is what sort of a game plan the AMD sellers are following?
Well it's been a quite a while since we've seen these levels. I'm sure many are content to take the money and run. The markets are forward looking and NGA is on the horizon. I'm not saying that NGA will be the home run that Intel is looking for, but it might make it hard to move the combined Fab 30/36 output without a dramatic hit to ASPs.
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