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Should Investors Dump AMD?
If you have any old AMD shares lying around you might like to sell them as fast as you can, according to the bean counters at Goldman Sachs.
Despite the fact that the company is doing rather well, and its share price is has gone up rapidly over recent months, Goldman Sach analysts claim that the writing is on the wall for AMD. It thinks that AMD shares will be worth just $2.50 soon. The stock’s 50-day moving average is currently $2.98.
The company said that while AMD could clean up in the gaming market even if you take those figures into account the stock is trading at 22 times its 2014 CY EPS estimate. In other words the company’s core PC business is still shagged and still will generate 45 per cent of the company’s 2013 revenue.
“We therefore believe this recent move in the stock is just the latest in a long history of unsustainable rallies, and we are downgrading the stock to Sell. We believe the current multiple is unjustified for any company with such significant exposure to the secularly declining PC market,” the firm’s analyst wrote.
Analysts at Sanford C. Bernstein think that the share price will settle on $2.00 and FBR Capital Markets thinks $3.00. In other words if you want to know what is really happening at AMD you might as well ask the cat, than any Wall Street expert.
AMD’s Richland Coming In June
Richland is set to replace AMD’s Virgo platform, powered by Trinity processors, and this change will happen in June 2013, most likely coinciding with Computex 2013.
AMD has just launched the first batch of Richland mobile APUs and we still have to see some notebook designs hitting the market. We wrote about mobile Richland APUs.
As of late last year Desktop Richland was always set to launch in June 2013 and the fastest of them is the A10 6800K, clocked at 4.1GHz and 4.4 with Turbo. It also features Radeon HD 8670D graphics that run at 844 MHz. This is the fastest Richland part and it comes unlocked, ready to replace the current AMD A10 5800K. In Europe, the A10 5800K currently sells for 112, while in US the same CPU sells for $129.00 (boxed).
The alpha dog A10 6800K is followed by A10 6700, A8 6600K (Unlocked) and A8 6500. AMD has a mix of 100W and 65W quad-core Richland desktop SKUs. There will be a single A6 6400K (Unlocked) SKU and the A4 6300, both dual-cores with 65W TDP.
Production ready samples were churned out in late January, while volume production is scheduled for late March 2013. The announcement was always scheduled for June 2013 and Richland last through most of 2013, until Kaveri with 28nm Steamroller comes on line.
AMD Goes Richland
There have been more than enough leaks dealing with Richland, AMD’s successor to the Trinity powered Virgo platform, and we even had a chance to see some leaks regarding its successor, codenamed Kaveri. As you may already know, Richland is planned to last through 2013 and it is clear that this is very important chip for AMD.
Based on the Piledriver architecture and built using 32nm technology, Richland will feature an integrated GPU that will be upgraded to Radeon HD 8000 series, a generation ahead of Trinity. As you know, there has been a lot of leaks regarding the Richland parts and the quad-core A10-6800K with Radeon HD 8670D graphics is expected to pack quite a punch. Best of all, Richland will still use the same FM2 socket.
According to our sources, the NDA will be lifted on 12th of March, 8am EST, and we are sure that we will see at least a couple of reviews as well as some additional info regarding the price and the availability date.
AMD Debuts R5000
AMD has released its Firepro R5000 graphics card that has video over IP capabilities.
AMD typically promotes its workstation class Firepro cards using CAD/CAM software, however this time the company is relying on remote viewing as the big selling point for its latest workstation graphics card. AMD’s Firepro R5000 has a GPU that uses its Graphics Core Next (GCN) architecture and Teradici PC video over IP technology to send graphics output over the network.
AMD used its Pitcarin GPU coupled to 2GB of GDDR5 memory in the Firepro R5000. However it isn’t AMD’s GPU that is the big selling point of the Firepro R5000 but rather Teradici’s Tera2240 chip that encrypts display output before sending it out on the network, while supporting up to 60fps (frames per second).
AMD’s Firepro R5000 is intended to be used in render farms, with each final image being sent over an IP network to the end host, and the firm claims that the technology can be used in education, financial and media environments.
The Firepro R5000 is a single slot graphics card that has two mini Displayport outputs that can drive two 2500×1600 displays, however it can also drive a further four remote displays at 1920×1200 resolution by sending data over its RJ45 Ethernet port.
Both AMD and Teradici talked up the low configuration overheads of the Firepro R5000.
AMD 2014 GPU Shaping Up
It looks like AMD has changed its mind about 8000 series graphics, part of the Solar System range of products are slowly showing up in the market.
We got an idea that at some point in the latter part of 2013 there will be some new Sea Islands based graphics line from AMD. What we refer to as the HD 8000 series will come at some point, but AMD can actually end up branding some of these new parts as HD 7000 series products as well.
We were more interested in the big picture, when and whether we will see an entirely new generation in 2014, let’s call it 9000 series for now. Multiple sources have told us that AMD will stick with discrete graphics for the foreseeable future. In 2014, we should see the new HSA generation as well as a steady roadmap for the future beyond 2014.
Remember, AMD still makes quite a bit of money on graphics. It doesn’t makes a lot, but it doesn’t build GPUs at a loss either. Its graphics integrated in CPUs, APUs if you will, also help AMD sell more cores and this is why AMD will stick with making new graphics cores in the future. Technology developed for high-end discrete graphics will trickle down to APUs over time.
Winning all three consoles, including the already launched Nintendo Wii U as well as the soon to launch Xbox 720 (next) and Playstation, 4 will definitely help AMD to perform even better in the future and build closer relations with developers.
Nvidia will have someone to fight in this market and AMD will continue to make discrete graphics cards, as well as notebook chips. Both companies will fight for as much market share as they possibly can and analysts who claim either of them is about to ditch the discrete market is dead wrong.
AMD Delays Cards
While some people are packing in smoking, AMD thinks it is a good idea to pack in releasing new graphics cards, at least for a year or so.
AMD marketing manager Robert Hallock told Megagames that the company has no intentions to release Radeon HD 8000 series cards for the foreseeable future.
“The HD 7000 Series will remain our primary focus for quite some time,” he said.
When pressed he said that AMD and its partners are happy with the HD 7000 Series, and it will continue to be its emphasis in the channel for the foreseeable future. There had been some rumours that an HD 8000 Series was being developed. However AMD has never confirmed it and so far there has been no proof that any were ready to show up.
Hallock’s comments lend credibility to rumours that the HD 8000 family won’t be out before Q4 2013.
AMD Releases Vishera
Although it was detailed back in August last year, AMD has just now officially released its new “affordable” Vishera based FX-4130 quad-core socket AM3+ CPU.
The new CPU is part of AMD’s 4100-series and is based on Vishera core design with four Piledriver cores. It works at 3.8GHz base clock and can “turbo” up to 3.9GHz. It packs 4MB of L2 and 4MB of L3 cache and has a 125W TDP.
According to the slide over at Xbitlabs.com, the FX-4130 replaces the FX-4100 with the same US $101 price but should provide between 3 and 9 percent more performance.
As things get better with Globalfoundries and their 32nm process technology, AMD is expected to introduce new models based on cut-down versions of Vishera, according to the report.
AMD Offers More Radeon Chips
AMD has announced four Radeon HD 8000M series GPU chips sporting its latest Graphics Core Next (GCN) architecture.
AMD’s GCN architecture made its first appearance in the firm’s ultra high-end mobile chips, however next month’s CES show will see the firm show off laptops featuring four Radeon HD 8000M series chips. The firm’s four Radeon HD 8000M chips are pitched at the mainstream and gaming laptop markets, though the company said that Asus already has a laptop announced that will use the chips in an ‘ultrathin’ design.
AMD’s Radeon HD 8000M series sees the firm split three chips with the same number of stream processors and memory clock speeds that scale up to 1.25GHz but differentiated by their core speeds. The firm’s Radeon HD 8500M, Radeon HD 8600M and Radeon HD 8700M all have 384 stream processors but are clocked up to 650MHz, 775MHz and between 650MHz and 850MHz, respectively.
Topping AMD’s present range is the Radeon HD 8800M, which has 640 stream processors and is clocked at between 650MHz and 700MHz, while its GDDR5 memory is also clocked at 1.25GHz. All of the firm’s chips, by virtue of being based on the GCN architecture, support DirectX 11.1.
AMD said it will launch three more chips in the Radeon HD 8000M series in the second quarter of 2013. According to the firm’s roadmap, two of those chips will sit above the Radeon HD 8800M in terms of performance while the third will straddle somewhere between the Radeon HD 8600M and Radeon HD 8700M.
AMD was tight-lipped on the power figures for its chips, saying that full details of its Radeon HD 8000M series chips will appear at CES, where its partners will tip up with laptops sporting the chips.
AMD Shows Piledriver Opteron
AMD’s Piledriver rollout is all but complete. With Trinity in the mobile and desktop space, new 3300 and 4300 Opterons are bringing the new architecture to data centers.
The Opteron 4300 series offers six different parts, in quad-, six- and eight-core flavours. Stock clocks range between 2.2GHz and 3.5GHz, with TDP’s in the 35W to 95W range. The cheapest Opteron 4334 costs $191, while the priciest 4332HE comes in at $501. The 3300 series consists of three quad- and eight-core SKUs, priced at $125 to $229. The pricing of both series is pretty aggressive.
But what’s next for AMD? Well things should be eerily quiet on the server front in 2013. Abu Dhabi, Seoul and Delhi/Orochi C should last throughout 2013 and even a good part of 2014. That’s when we can expect some major changes, as AMD transitions to 28nm and goes about transforming its Opteron lineup.
Future Low Power CPUs and APUs (as AMD calls them) should replace Dehli/Orochi-C in 1P and dense server markets, but AMD is also planning “Client APUs for market enablement,” and this sounds a lot like ARM-based low voltage parts. Of course, in the high end AMD plans to stick with big Steamroller cores, but mid-2014 is a long way off.
Radeon 8000 HD Expected In Q2
Since we only have one month left in 2012 and due the fact that graphics companies rarely announce something big in December, it is obvious that Radeon HD 8000 slipped to 2013.
Our well informed industry sources are confirming that the next generation, based on Sea Islands, architecture is coming in 2013 and some of them dare to say that it will be Q2 2013 rather than Q1 2013. Some people were expecting to see the cards in Q1 2013 but even according to AMD’s own roadmap Sea Islands, the new GPU architecture with HAS features was scheduled (or should we say delayed. Ed) for 2013.
AMD has already communicated this schedule loud and clear in its February 2012 roadmap update, and even then it killed hopes that Sea Islands or HD 8000 cards are coming in very late Q3 or Q4 2012, as was previously expected.
We won’t get into any specific details like the 8000 branding, or die sizes as we simply don’t know this at the time being. It’s safe to say that these cards will end up faster than 7000 series and at similar TDPs to the previous generation, all manufactured in 28nm.