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AMD 4Q22 실적은 시장 예상을 크게 웃돌았고 자일링스 인수 효과로 임베디드 사업이 성장을 견인했다고 평가. 4분기 실적: 연간 매출 전년 대비 40% 이상 상승 수준으로 언급, 데이터센터·임베디드 사업 강세, 헬스케어·산업·자동차·통신·항공우주방산 모두 사상 최고 기록. 4분기 데이터센터·임베디드 매출이 전체의 50% 이상. 데이터센터: 4세대 EPYC Genoa 출시, 총소유비용(TCO) 경쟁력 강조. 데이터센터 매출 전년 대비 42% 증가(약 17억 달러)로 언급. 인텔은 33% 감소해 점유율 확대 근거로 제시. 단기 리스크: 일부 클라우드 고객의 재고 조정으로 상반기 데이터센터 수요 일시 둔화 예상. 다만 연간으로는 데이터센터·임베디드 성장 전망 유지. PC: 1분기가 PC 사업 바닥이라고 판단, 마진은 낮지만 회복 기대. 임베디드: 6,000여 고객 확보, 항공방산·산업·자동차 등 수요 증가, 백로그 가시성 양호, 경기 민감도 낮다고 평가. 1분기 성장 기대. 거시 리스크: PC·게이밍은 거시경제 영향을 더 받을 수 있으나, 제품 포트폴리오와 점유율 확대로 2023년 성장 가능하다는 입장. 2023년 하반기 개선 근거는 고객과의 긴밀한 협력과 컴퓨팅 수요 확대. 진행자 Cramer는 인터뷰 중 AMD 2023년 상반기 재고 조정과 PC 리스크를 질문하며 신중한 태도를 보였음.
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and these Shares are actually higher if reporting a quarter that was much better than expected joining us now to discuss how AMD did is Lisa Sue Lisa first I want to congratulate you and also point out right from the top two women at the top uh woman CEO and a woman CFO and I hope you represent the future and I think that that's just a great thing that you're doing well good morning Jim it's great to be here with you guys as always so let's go to uh what really happened here which to me looks like that the xilinx acquisition which I had questioned at the time because I wasn't sure you spent a lot of money really came through and drove a lot more upside than people realized it was a um a strong year for us as we finished up 2022 uh Jim you know if you think about it there were a lot of moving pieces in the year but we had a very strong fourth quarter with our data center and our embedded business uh growing and um what we saw is as you said the xilax acquisition has really just helped us transform AMD so you know part of this was ensuring that you know with our broad product portfolio and our markets that we serve that we do have a lot of diversity in our business so we saw records in healthcare industrial Automotive uh Communications Aerospace and defense as well you know a very very strong uh you know data center uh Cloud quarter for us so that was how we finished up the year up more than 40 percent for the quarter okay so let's talk the future uh Data Center 30 I was very excited about it until you dropped the bomb which said that the cloud companies are are maybe a little bit too thick with inventory at the same time when you try to call bottom in the first quarter for uh PCS but my problem is the PC margins as you know are not great and the data center marches are terrific so should I be worried about the next two quarters Lisa if I'd like to take a step back can just look at um you know sort of all of 2023 when we look at you know all of 2023 what we see is first uh you know compute is a secular growth driver over the the medium term and what we've seen is that our product portfolio is just very strong we've had consistent execution with our data center roadmap so you know we've talked on this show before about our third generation epic Milan we just launched our fourth generation epic with Genoa um you know extremely strong uh performance a total cost of ownership for data center providers and so yes on the overall we believe that you know Data Center and embedded will grow for us in 2023.
now there are some you know near-term adjustments in inventory for some of the largest cloud manufacturers which by the way you should expect given you know just how strong 2022 was in terms of a demand environment so you know we do expect some near-term inventory adjustments over the first half of the year but we've made progress in PCs so I know that there's been a lot of you know questions about PCS we do believe that the first quarter is the bottom for PCs and we believe very much in our product portfolio and the strategy that um that we put together so yeah that's that's what we're seeing as we go forward all right let's go back to Data Center which again you did say that a couple of cloud customers might have too much inventory but I saw uh your uh your data center revenues up 42 year over year to 1.7 billion I know you don't like to talk about competitors and you've always told me not to talk about competitors Lisa Intel declined 33 year over year but that's a competitor and you can just say other competitors haven't done as well this is a Monumental Delta for you and I think at least should be I'm not asking to take a bow but just tell me just how are you able to take share like this in an atmosphere where a lot of companies aren't able to really LeapFrog over other companies I I think Jim this is all about product execution I mean you know what we see with the largest data center providers First of all it's a fantastic you know long-term Market um you know this is our big bet that we've made over the last five years and we've been just uh very clear that you know we're going to consistently execute and every generation is going to get better in terms of performance capability one of the big things right now um Jim as you can imagine is overall sustainability and the fact that you know we want to make sure that as we build these large data centers that we do it in a way that's very sustainable and very energy efficient and that's what we've been focused on so I'm proud of our execution and now there's a lot more to do and you know as we look forward to 2023 we have lots of products that are coming out we announced a number of products earlier this year and you know I view this as you know we just need to control the things that we do control which is our own execution and really deep Partnerships with um you know some of the the largest cloud customers in the world uh but of course of the things you can't control uh Lisa you talked about a better second half of the year when it comes to a cloud inventory are there things in the macro that need to go right to make that happen well Carl certainly we're always watching the macro environment and you know there are lots of puts and takes um as you as you look through you know what may happen as we go through the year I think from what we see though what we see is there are um you know more workloads there are more capabilities that AMD will be able to address as we go forward in the data center um and in the cloud and so when we view that as um you know positive for us and sure we'll be infected um you know a bit by the macro like everyone else will but we think that even in this environment uh you know we see a strong path to continue to grow share and grow our Partnerships um you know with the uh with our customers Lisa then but to those who would say given what you've just uh told us in terms of the macro environment and say listen following multiple years a very strong double-digit uh Top Line growth you're going to be hard-pressed to grow Top Line in 2023 what do you say well uh David what I would say is we have a lot of positives in terms of the product portfolio we believe that that's been the key for our business and our growth has been the strength of our product portfolio and our ability to gain share we are a very Diversified company now so we very much like our data center exposure as well as our broad embedded exposure that came from the xilinx acquisition and you know we're watching the macro especially as it relates to you know PCS and gaming which perhaps are you know a bit more dependent on how the macro plays out over the year but I think you know overall we like the position that we're in and you know we're very focused on execution as we go through the year okay so let's talk about embedded more because I think it's such a highlight and the growth is rather extraordinary from when xilinx is running the company uh you're now into defense into Aerospace industrial Auto how are these markets doing versus say how we think the cyclical environment is in our country well I I would tell you Jim that um the um the overall embedded markets for us as you mentioned Aerospace and defense industrial Healthcare Automotive Communications you know we have over 6 000 plus customers that we've brought in with the xilinx acquisition it's a very Diversified portfolio what we see is for each of these markets they actually need more content so they're using you know more capability more Computing capability and you know we're leading the industry uh with our adaptive Computing capability so I really like what we have there I would also say that you know we have good visibility in terms of backlogs for um you know these markets they tend to be uh you know much less cyclical I would say than some of the the other like the PC markets and so on and so forth so we feel very good about the growth that we've seen there we expect to grow as we go into the first quarter and uh you know we believe that now here's another place where our Market um you know Sam our overall Market capability is expanding and will continue you to invest in this market going forward you know one of the things Jim I'll tell you is in the fourth quarter our data center embedded businesses were over 50 percent of our Revenue so it is a very nice mix of revenue for us all right one last question uh elevated levels uh inventory Cloud when I go back to that uh but better uh in the second half what gives you the visibility to be better in the second half because when I see elevated now after I saw it in gaming I saw it in PC I have to be a little bit more skeptical than I was at one point well the nice thing about this is you know we really partner very deeply with our customers and as you know these Cloud customers are planning you know for their full year and so you know we've been uh very much uh working with them on what um you know their various patterns are and the way to think about it is each one is different but at the end of the day we need more compute in the industry and we see them moving more and more of their Computing capabilities in their data centers to AMD so I think we feel good about our positioning and you know again uh there are uh you know many things that have to play out in terms of the macro but in terms of our product positioning and you know where we are in terms of the design environment we feel very good about our overall positioning well Lisa want to thank you for coming on the show this is a large dish my travel trust and I think that the turn seems to be here but I know that you're very uh you never uh over promise because you don't want to under deliver thank you so much for coming on the show it's been great to be here thank you so much for having me thank you thank you thank you still to come this morning Kramer's Matt Dash will count down to the opening bell still some data on Deck later this morning including some pmis ism joltz is on the way and the FED don't go anywhere
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