Cash is now just $1 billion. That's 100-million less than AMD itself claims to be its minimum sustainable cash reserve.
Revenues contracted another 9% sequentially, in line with the mid-point of AMD's weak guidance at the end of Q3. Q1 guidance given on the Q4 CC was bleak. Another 9% revenue decline being forecast.
Sale of Intel-based SeaMicro servers moved the server sales needle, but not the server CPU market share needle, for AMD. In fact, AMD's SeaMicro sales helped Intel show impressive 4% sequential growth in server CPUs in Q4.
AMD's only profitable line of business, GPUs, also shrunk in contrast to NVDA which grew that business aggressively.
Margins are a joke. 15%. Pathetic. AMD is giving away product and still can't stop losing marketshare. When you don't have competitive technology, no one wants your products at any price.
In short, there is no reason for optimism whatsoever. The report illustrates that the AMD train remains firmly on the bankruptcy track, and hasn't slowed a bit.
It will be under $2 by mid-February.