00:00So you take a look at the initial reaction in shares, down about 5% after hours.
00:04A lot of disappointment, I would say, at this point when it comes to that week forecast,
00:09when it comes to some of those supply issues. What do you make of this print?
00:13No, I agree with you. I think there's been a whole lot of optimism around
00:18Intel potentially turning a corner. You have the new 188 products out.
00:23And that really is going to define what Intel looks like moving forward. Do they get
00:30these new process notes to work? And hearing that yields are difficult,
00:36that's not a great start to 18A. And I'm taking a look at your notes heading into this report,
00:42and you had a lot of concern when it comes to PC demand. And also, what is their share when it
00:48comes to the PC market, PCs and servers? I mean, taking a look through the details here,
00:53and I know you've only had a couple of minutes, do you feel better about some of those risks? Or
00:58is some of that concern justified by this?
01:01So it's a little bit hard to tell. When Intel tells you that they're really supply constrained,
01:06you don't know with their guide how much is the disappointment on the top line. Is it
01:13their inability to fulfill demand? Or is it rather just demand has dipped? Having said that, I think
01:24when you're thinking about Q1 and heading into next year, assuming that they are indeed supply
01:30constrained, then the real winner is AMD, right? They're the ones who are filling demand. And I
01:34completely believe that server compute demand is really strong and that AMD is taking share of that.
01:39I am curious, though, too, about just as Liputan really tries to sort of turn this company around,
01:45there's always that idea of the bridge between whatever this AI future might be,
01:49and obviously the legacy business. When you look at their core business, which is still their biggest
01:53business, basically the PC business, client computing, that was down 7%. So that's basically
01:58performing worse than the other parts of the business. And I am curious as to whether that
02:03ends up becoming a more meaningful drag on his ambitions to pivot this company deeper into data centers
02:09in AI. I think the CCG business, assuming that you're competing, it should at least be a study
02:17business, right? No one's need for PCs, at least at this point, is going away. And there's only two
02:26competitors. So particularly if you're able to build a good chip in-house, you should have some cost
02:32advantages versus AMD. And so I don't think that's so much a drag. I think the concern is just
02:38can you compete in that business? Can you compete in the server business? And if you get those right,
02:44then, you know, you have some advantages addressing AI, particularly owning your own foundry, but
02:49they're not there yet competing on their core businesses.
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