When you cut through Rory Read's bullchit, here are the facts:
Bulldozer FX Opterons were announced back in 2011. Dell even demoed some Opteron FX 6200 servers. But these CPUs were a complete "no show" in volume, killing partner Cray's revenues for several quarters and more recently ceding huge swaths of market share in servers to Intel (Intel's server revenues grew 15% in Q2).
Trinity was alleged by AMD PR mouthpiece Phil Hughes AMD PR to have shipped in Q1 of 2012. Here we are well into Q3 and there's only now the barest trickle of Trinity-based machines available at a handful of OEMs.
What's the connection? Trinity uses an updated version of the Bulldozer core called Piledriver. Opteron FX uses the Bulldozer core, and is MIA. Given the length of the hiatus, only an imbecile would doubt that there are problems with the design. If AMD hasn't been able to fix Bulldozer, why would we expect Piledriver, which is based on Bulldozer, to be functional?
Most chillingly for AMD pumpers were Rory and crew's evasiveness about the Llano vs. Trinity mix in Q2 and future quarters. These retards harped on the fact that they shipped 2x as many Trinitys in Q2 as they did in Q1. Why did they say that? To *imply* that Trinity is ramping according to plan. But then they refused to share details regarding how many Trinity APUs actually shipped. That's not normal. Intel told us how many units it shipped in Q2 and what percentage of those units were Ivy Bridge (25%). Normally, AMD does the same. Yet this time around AMD's manager pointedly refused multiple analysts requests for units shipped/percentage mix data. If Trinity's ramp is really on track, what purpose would there be in concealing this information?
No purpose whatsoever. So why then is AMD hiding the ball? Because Trinity is BORKED! Trinity is BORKED because Piledriver is BORKED! Piledriver is BORKED because Bulldozer is BORKED! Bulldozer is BORKED because AMD cut corners in its design and QA process (as reported by AMD insiders). AMD management knows that its new processors are BORKED but still is trying to convince you that they aren't. That sounds almost sleazy doesn't it?
But that's okay. The Street appears to have puzzled it out. Now AMD's share price is just as BORKED as its processors are!