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AMD: Article

AMD Warns

AMD Warns

Once upon a time AMD toyed with the notion that it might break even in Q2. Now it's admitting it's not gonna come close.

It said Tuesday that revenues would only amount to $615 million, down 14% quarter-over-quarter and down from an earlier projection of $715 million made when it still had 50%-60% of the number to do in June.

It previously figured it would take $775 million to break even.

The company, which said "the anticipated global sales improvement in the month of June did not materialize as we had anticipated," complained that the SARS outbreak thwarted PC and handset sell- through in China and Asian markets.

Dan Niles of Lehman Brothers figures Intel gained share with the Centrino and Springdale launches. Niles is also skeptical that Opteron will take much share in servers.

Bear Stearns reckons that when AMD's new 64-bit desktop chip comes out in September its "market share loss to Intel should reverse." Bear says it doesn't think AMD will have a liquidity problem though it expects it to burn through a lot of the money it's had in the bank. It estimates its cash balance will dive from $800 million at the end of the first quarter to $287 million at the end of the year.

AMD's numbers are due on Wednesday July 16.

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