It's not a V bottom, it's not a U bottom, it's a Nike swoosh recovery - Greg McLenon, Hotovec Pomeranz
DIRK MEYER was not forced out of his job as AMD's CEO because he lost the plot on devising a mobile strategy, as the company's leadership even now doesn't seem all that bothered about it.
Its interim CEO, AMD's CFO Thomas Seifert, told its fourth quarter earnings investors telecon that Meyer did not get the push over tablets and that the company's product development efforts will eventually produce chips for the netbooks without keyboards.
Media reports claimed that Meyer had been pushed out because he had not developed a strategy for AMD to make the most of the tablet craze and smartphone growth.
However Seifert told investors there was more to it. He said, "The discussion was more than a tablet strategy, the mobility discussion was also an infrastructure question... and addressing some of the near term opportunities to improve profitability."
Getting more profitability was always going to be difficult whomever was the big cheese because Seifert and his board of directors admitted that revenue for the first quarter is likely to be "flattish" and that sales of GPUs in the fourth quarter were down. They were also disappointed with AMD's performance in the server market.
Overall for AMD it was all a bit rubbish with a flat income situation in the fourth quarter. Looking at the figures with a year on year comparison and revenues at just $1.65 billion, AMD achieved only a measley 2 per cent growth. µ