AMD - Schwab Soundview Semiconductor Conference

pipin · 11.05.2004

AMDs Michael Haase(Director Investor Relations) hielt heute auf der Schwab Soundview Semiconductor Conference eine Präsentation die einige Neuigkeiten und auch bekannte Punkte enthielt. Die Präsentation ist als Audio Webcast <a href="http://dl.groovygecko.net/anon.groovy/clients/eclipse/sscm01/sscm01session10.asx" target="b">abrufbar</a>. In einem <a href="http://www.investorshub.com/boards/read_msg.asp?message_id=3058550" target="b">Posting</a> bei Investors Hub wurden einige Punkte wiedergegeben.<ul><i>"The presenter AMD Director Investor Relations, Michael Haase, was low-key, balanced and even modest. He said nothing new about CPUs but reaffirmed that 90nm is "in production" and will "ship for revenue in 3Q". He made the piont very clearly that whereas Intel is moving to 64 bit on its 7th generation technolgoy, AMD has already made the move on 8th generation. It was also encouraging that he said that AMD will be making a big effort in laptops, including thin and light.

I was impressed by his analysis of the flash business and the magnitude of the cost savings expected from process improvements. He also stated that Spansion intents to move from No.2 to No.1 in the combined NOR/NAND flash market. (It is already No.1 in NOR. According to an independent source AMD improved its market share in 1Q to 28% over 17% from its nearest competitor, having been about 25% to 23% in the previous quarter. (These figures need to be checked I am writing from memory a couple of hours later)."</i></ul>Diese werden in einem <a href="http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=20117357" target="b">Posting</a> bei Silicon Investor bestätigt und ergänzt.<ul><i>"Spansion net value about $3B. 1Q2004 Spansion 28%, competitor about 18%.

Isupply, NAND + NOR, amd #2 player

Catching up in developing market, Latin America, China, India.

Slides on yields. Fab 30. 'Very good', transitioning to 90Nm for several Qs.

Opteron yield ramp 66% faster than previous generation. Nineth generation -- and he gave a time but I didn't catch it,
also will be fast."</i></ul>

pipin · 12.05.2004

Advanced Micro Devices (AMD, Outperform, $26 P/T, SSCM Analyst: Hans Mosesmann)

- AMD's presentation focused on the dramatic turn-round in the company's competitive positioning over the last 35 years: fast follower to innovator.

- Most interesting processor data points included 90nm AMD64 transition on-track for Q3 shipments with good early yields and very likely not to experience the thermal problems seen by Intel with its 90nm Prescott transition. AMD believes its use of silicon on insulator (SOI) gives them a sustainable edge going forward in terms of process transitions.

- The 90nm transition in processors is expected to lead to a 45% cost reduction over the first 12 months of the ramp and 60% cost reduction over 24 months.

- AMD continues to see increasing momentum in servers with its Opteron 32/64 bit processor. The company plans to build on it's 3%-4% market share in servers to double digits in the relative short term. Longer term market goals in servers are in the 20%-30% which may seem aggressive, however not totally unreasonable given the early success of Opteron in our opinion.

****- In Flash memories (Spansion) AMD believes they continued their market share gains in Q1 with roughly 28%, up from 24% for 2003 overall according to iSuppli. This market share is rather odd given Intel's aggressive price stance in Flash which suggests AMD's product positioning (density/features/cost) may very well be superior to other solutions in the market.****

- Spansion plans a 90nm Flash transition in early 2005 which should also help margins and allow the company to remain competitive to Intel's own 90nm transition.
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He might also have mentioned that AMD intends to take its share of mobile to 12% or 13% in the near future.

With respect to the growth in flash share - the rise from 24% to 28% from Q4 03 to Q1 04 was at the expense of Intel which dropped from 23% to 17%.

He might have mentioned that AMD is now No. 1 in NOR and aiming to be No.1 in combined NOR and Nand. There is a full slate of offerings in Mirrobit and an aggressive roadmap. Mirrobit is suitable for high density applications presently using NAND and this section of the market is growing due to the increased density of handset applications.

Although late to the "emerging world", AMD had record sales in China and Latin America and is now going strong in India. 7 out of 10 Chinese handset manufacturers use Spansion flash.

AMD - Schwab Soundview Semiconductor Conference

pipin

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