AMD CFO Says Balance Sheet is 'Main Priority', Believes Gross Margin Can Be 45%+ Over the Long-Term

Speaking at AMD's (NYSE: AMD) Analyst Day which is currently being held, the chip-maker's Senior VP and CFO, Tom Seifert, has made some interesting comments:

• AMD will introduce test/sample versions of the Bulldozer and Bobcat chips in early 2010.
  
• the company won't use an equity offering to help pay down debt.
  
• the balance sheet is AMD's "main priority".
  
• AMD needs to keep its cash level at around $1 billion.
  
• sees the processor and graphics markets growing 10-15% during 2010.
  
• sees next year's capex at about $120 million
  
• believes that gross margin could go above 45% over the "long-term".

Shares of AMD have traded up about 2-3% for much of today's trading session. Just off fresh session highs, the stock is now at $5.30.

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