Como se combate o populismo? "Com eleições", responde Fukuyama

[Ertai]

É bom ver a Intel recuperar agora no final da sessão, conseguindo voltar acima dos $19

Tanto a AMD como a Intel deverão subir a médio prazo, se a inversão se verificar e principalmente com o fim da pior época de vendas de semis.

Vamos ver se a Intel dá a esperada inversão nas próximas duas semanas...

[pedras11]

Efectivamente desde um ano atrás que a Intel leva uma "porrada". Vamos ver até quando... o dia de hoje está a ser interessante na Intel com uma certa recuperação dos novos mínimos. Será que está ganhar força para inverter da tendência depressiva Penso que ainda será cedo...

[Jack]

O Mercado...

Já agora, deixo o vídeo do Mad Money do Cramer; ele está bull em AMD e Bear na Intel.
Não me deu um único argumento que me fizesse mudar de opinião. Basicamente, tudo old news...

[Ertai]

Situação interessante...

Eu diria que pode estar numa boa oportunidade de compra, a usar os mínimos da sessão como suporte.

Suporte descendente agora nos $32, e considerando que os earnings já passaram, juntamente com os fundamentais bastante promissores para o longo prazo, e a tendência de médio prazo ascendente ainda intacta.

Pode ser mesmo uma tentação entrar neste momento. Não é um sinal fiável, mas fechar acima dos $32 pode ser bom para as sessões depois de 2ªfeira.

Entretanto a Intel está muito mais interessante ao ontem fazer uma vela de inversão e pelo menos hoje estar positiva (o que é uma novidade após meses de correcções) apesar de precisar ainda muito mais para confirmar inversão.

Fica aqui o gráfico da Intel e AMD, para não tar a colocar nos dois posts...

Jack, quanto ao mercado ele tem sempre razão, mas por vezes demora a decidir-se
Enquanto estou bullish a curtíssimo prazo na Intel, na AMD o médio e longo prazo estão muito mais favoráveis.

[Jack]

O mercado tem sempre razão

[Nasdaq]

Em vespera de epoca festiva e com boas perspectivas de resultados por parte das grandes.

[Ertai]

AMD Reports First Quarter Results
Wednesday April 12, 4:15 pm ET
First Quarter EPS of $0.38 Driven by Record Sales of AMD Opteron(TM) Processors and Record Gross Margin

SUNNYVALE, Calif.--(BUSINESS WIRE)--April 12, 2006--AMD (NYSE:AMD - News) today reported sales of $1.33 billion, operating income of $259 million, and net income of $185 million, or $0.38 per share for the quarter ended March 26, 2006. These results include a stock-based compensation expense of $15 million due to the implementation of SFAS 123® and an expense of $20 million associated with the partial redemption of senior notes.

In the first quarter of 2005, excluding the Memory Products segment(1), AMD reported sales of $780 million and operating income of $64 million. In the fourth quarter of 2005, AMD reported sales of $1.35 billion and operating income of $268 million.

Change
-------------
Q1-06 Q4-05 Q1-05 Q1-06 Q1-06
vs vs
Q4-05 Q1-05
----------------------------------- ------ ------ ------ ------ ------
Net Sales (billions) $1.33 $1.35 $0.78 (1.5)% 70.5%
----------------------------------- ------ ------ ------ ------ ------
Operating Income (millions) $259 $268 $64 (3.4)% 304.7%
----------------------------------- ------ ------ ------ ------ ------
Gross Margin (percent) 58.5% 57.3% 52.7% 1.2% 5.8%
----------------------------------- ------ ------ ------ ------ ------

"AMD had another great quarter," said Robert J. Rivet, AMD's chief financial officer. "Building on our positive momentum, we believe we once again gained dollar market share based on strong customer demand for AMD64 single and multi-core processors. We expanded our global customer base in the quarter, achieved record AMD Opteron processor sales, increased our average selling price (ASP), and realized year-over-year sales growth of 71 percent. Our manufacturing strategy execution was excellent and our technology transitions remain on track, with 65nm production shipments expected in the second half of 2006.

"We also continued to execute against our plans to improve our balance sheet. We had a successful equity offering, reduced debt and lowered our debt-to-capital ratio to 12 percent(2)."

First quarter gross margin increased to a record 58.5 percent, compared to 57.3 percent in the fourth quarter of 2005. The increase was largely due to product mix improvement, higher desktop and mobile ASPs, and manufacturing efficiencies. Operating income was $259 million in the first quarter, up from $64 million in the first quarter of 2005 and down slightly from $268 million in the fourth quarter of 2005.

Solid first quarter sales were driven by ASP improvements from the prior quarter and increasing customer adoption of AMD's server, mobile and desktop offerings in the commercial segment. Record AMD Opteron processor sales were driven, in particular, by strong demand for dual-core processors for servers and workstations. Shipments of AMD Turion 64(TM) mobile processors also increased quarter-on-quarter. Geographically, processor sales were especially strong in Greater China, Latin America, Russia and South Asia.

ADDITIONAL HIGHLIGHTS

-- FORTUNE magazine ranked AMD as a Top 10 "Most Admired Company"
for Innovation in 2005 and the leader in the category of
innovation among semiconductor companies in 2005.

-- The AMD64 platform has earned more than 200 global industry
awards. In the first quarter, AMD added 26 awards, including:
2005 Reader's Choice Award for Best Processor Architecture
from Tom's Hardware for the AMD Athlon(TM) 64 X2 processor and
Best Server Processor of 2005 from In-Stat MDR for the
Dual-Core AMD Opteron processor.

-- More than 50 percent of the top 500 of the Forbes Global 2000
companies or their subsidiaries use AMD64 processor-based
systems. Recent additions include China State Power,
Continental AG, Enbridge, Inc., Fiat, Marathon Oil
Corporation, Mitsubishi UFJ Financial Group, Mohawk
Industries, Inc., New York Times Company and the Philadelphia
Stock Exchange, amongst others.

-- As planned, Fab 36 commenced shipments of AMD64 processors at
the end of March and the fab is already demonstrating mature
yields.

-- Customers and partners worldwide continue to expand the depth
and breadth of their AMD64 commercial product offerings.

-- HP, IBM and Sun Microsystems incorporated AMD's newest AMD
Dual-Core Opteron(TM) processors into their server
offerings.

-- Lenovo and AMD broadened their global relationship with
the worldwide launch of a new line of commercial client
PCs from Lenovo. These new AMD64 offerings build on the
considerable success AMD and Lenovo have shared in China
during the past two years.

-- Supermicro Computer, Inc, Tyan Computer Corporation and
Uniwide Technologies, Inc. joined AMD's Validated Server
Program (VSP) which ensures solution providers have direct
access to qualified, reliable, stable and well-supported
AMD64 server solutions.

-- The AMD Commercial Systems Channel Program now includes
more than 20,000 channel sales and technical
representatives worldwide.

-- AMD broadened its family of product offerings in the quarter,
launching five Dual-Core AMD Opteron processors, two AMD
Turion 64 processors, the AMD Athlon 64 FX-60 dual-core
processor, and three AMD Sempron(TM) processors for mobile and
desktop computing.

-- AMD's standards-based and collaborative approach to technology
development continued with the release of AMD's open I/O
virtualization technology specification through royalty-free
licenses.

[Ertai]

Vamos ter resultados da AMD hoje depois do fecho.

Para já parece-me que a subida de hoje possa ser uma boa indicação mas não deixa de ser uma incerteza..

Podem é ser importantes também para a Intel, ao apontar para uma melhoria no sector em geral depois do warning lançado pela Intel, e quem sabe "estimular" a empresa para uma inversão de tendência, mesmo sendo a AMD a principal rival.

Deixo aqui o gráfico e actualizo após as 21h com a saída dos resultados.