Tech Hardware Supply Chain - Gazhoo

Bhavin Shah
(852) 2800-8538
bhavin.a.shah@jpmorgan.com
Advanced Micro Devices
Company Description:
Advanced Micro Devices, Inc. supplies integrated circuits for the personal and networked computer and
communications markets, with manufacturing facilities in the United States, Europe, Japan, and Asia. The
company produces microprocessors, flash memory devices, and support circuitry for communications and
networking applications.
Country: United States
Ticker: AMD
Analyst: Christopher Danely
Rating: Neutral
Price (US$): 2.4
Market Cap (US$MM): 1,600
No. of Shares (MM): 667
Founded: 1969; Listed: 1972 Fiscal Year End: December
Key Management: Derrick R Meyer; Hector De J Ruiz; Robert J Rivet No. of Employees: 14,700
Business Alliances/Partnerships (US$ in millions) FY06 FY07 FY08 FY09E
NA Revenues 5,649 6,013 5,601 3,800
Gross Profit 2,854 2,291 2,117 1,360
Operating Profit 504 (929) (1,021) (1,490)
Net Profit 385 (1,443) (1,480) (1,910)
Earnings per Share (US$) 0.8 (2.6) (2.44) (2.92)
Return on Equity (%) -2 -14 NM (130.9)
Capital Spending (1,856) (1,686) (622) (1,200)
Research & Development Expenses 1,205 1,847 1,830 1,710
Cash & Cash Equivalents 1,541 1,889 1,096 2,154
Gross Debt 3,672 5,269 4,788 4,680
Owners’ Equity 5,785 2,990 (82) 1,451
Book Value per Share (US$) 10.9 5.2 (0.1) 2.2
Geographical Mix (2008)
NA
Other
22%
US
12%
Key Suppliers
Europe
18%
japan
3%
china
44%
Asia pacific
48%
Source: Company, J.P. Morgan estimates. Share price is as of 12 March 2009.
Asia Pacific Equity Research
20 April 2009
Product Mix (2008)
Advanced Micro Devices
Graphics
20%
Computing
80%
Large
Multinationals
(core OEM
customers)
Key Customers
Selected regional
accounts (core OEM
customers)
Target- Foreign and domestic manufacturers
of PCs and PC motherboards
COMPANY WEBSITE IC IDM
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