AMD 1995 Annual Report Download - page 10
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technology within the integrated circuit industry. The Corporation plans to
continue its significant commitment to research and development.
The Corporation's products primarily consist of industry-standard
integrated circuits, as opposed to custom circuits designed for a single
customer. While a substantial portion of AMD's products are standard items, its
products are increasingly designed for specific applications such as
telecommunications, personal computers, engineering workstations, multimedia or
local area networks. As a service to certain major customers, the Corporation
modifies portions of these application-specific devices to meet specific
customer needs. The resulting devices are produced in significant volumes for
such customers.
The Corporation is focusing its product development activities in two
areas: (1) Computation Products, including x86, K86 Superscalar and other
microprocessors, and I/O network products; and (2) Communications and
Components, including voice/data communications (World Network(R)), and high-
volume products such as programmable logic, non-volatile memory devices and
embedded processors for personal computers. Personal computer (PC) products
include microprocessors used in computers. High-volume products include Flash
memory, Erasable Programmable Read-Only Memories (EPROMs), programmable logic
devices (PLDs) and embedded processors. The Corporation's products are
typically subject to intense competition, in an industry characterized by rapid
technological advances and innovation.
Since most of the Corporation's products are used in personal computers and
related peripherals, the Corporation's future growth is closely tied to the
performance of the PC industry. From time to time, the PC industry has
experienced significant downturns, often in connection with, or in anticipation
of, declines in general economic conditions. These downturns have been
characterized by diminished product demand, production overcapacity and
resultant accelerated erosion of average selling prices. AMD's business could
be materially and adversely affected by future industry-wide fluctuations in the
PC marketplace.
7
Source: ADVANCED MICRO DEVIC, 10-K405, March 21, 1996