Advanced Micro Devices (AMD)

Market Price (8/8/2026): $483.0 | Market Cap: $788.3 BilInvestor Relations Sector: Information Technology | Industry: Semiconductors

Advanced Micro Devices (AMD)

Market Price (8/8/2026): $483.0
Market Cap: $788.3 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 40%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 10 Bil, FCF LTM is 8.4 Bil

Stock buyback support
Stock Buyback 3Y Total is 5.2 Bil

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Cloud Computing, Digital Content & Streaming, and 5G & Advanced Connectivity. Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 103x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 78x, P/EPrice/Earnings or Price/(Net Income) is 123x

Stock price has recently run up significantly
6M Rtn6 month market price return is 132%, 12M Rtn12 month market price return is 180%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 116%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6%

Key risks
AMD key risks include [1] fierce competition from NVIDIA, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 40%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 10 Bil, FCF LTM is 8.4 Bil
2	Stock buyback support Stock Buyback 3Y Total is 5.2 Bil
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Cloud Computing, Digital Content & Streaming, and 5G & Advanced Connectivity. Show more.
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 103x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 78x, P/EPrice/Earnings or Price/(Net Income) is 123x
5	Stock price has recently run up significantly 6M Rtn6 month market price return is 132%, 12M Rtn12 month market price return is 180%
6	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 116%
7	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6%
8	Key risks AMD key risks include [1] fierce competition from NVIDIA, Show more.

AMD in ETFs

Weight = AMD's share of each fund

SPY1.2%

VOO1.5%

IVV1.2%

VTI1.4%

ITOT1.1%

QQQ3.6%

QQQM3.5%

IWB1.1%

+43 more covered ETFs

Valuation & Metrics

FYE: 12/27	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	8/8/26	2025	2024	2023	2022
Share Price			$483.00	$214.16	$120.79	$147.41	$64.77
Mkt Cap ($ Bil)			788.3	348.4	196.0	238.4	104.8
+ Debt ($ Bil)			4.3	3.8	2.2	3.0	2.9
- Cash ($ Bil)			13.1	10.6	5.1	5.8	5.9
TEV ($ Bil)			779.4	352.2	198.2	241.4	107.7
Valuation Ratios
P/S	9.2	15.5	19.1	10.1	7.6	10.5	4.4
P/EBIT	89.8	151.6	102.5	81.6	94.2	398.6	82.4
P/E	30.1	63.0	122.5	80.4	119.5	279.1	79.4
P/FCF	—	—	93.8	51.7	81.5	212.6	33.6
Sector Ratios (* = sector average)
P/S *			3.4	3.2	3.3	3.0	2.5
P/EBIT *			4.1	3.3	0.3	-0.1	-0.1
P/E *			0.5	-0.0	-0.1	-0.3	-0.4
P/FCF *			10.5	11.6	13.5	13.3	7.1

FYE: 12/27	Forward FYE		Now
	2027	2026	8/8/26
Share Price			$483.00
Mkt Cap ($ Bil)			788.3
+ Debt ($ Bil)			4.3
- Cash ($ Bil)			13.1
TEV ($ Bil)			779.4
Valuation Ratios
P/S	9.2	15.5	19.1
P/EBIT	89.8	151.6	102.5
P/E	30.1	63.0	122.5
P/FCF	—	—	93.8
Sector Ratios (* = sector average)
P/S *			3.4
P/EBIT *			4.1
P/E *			0.5
P/FCF *			10.5

FYE: 12/27	AMD [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$41.3 Bil	—
FY 2026 Sales	$51.0 Bil	—
FY 2027 Sales	$86.1 Bil	—
FY 2026 Sales Growth	23.5%	—
FY 2027 Sales Growth	68.8%	13.0%
EARNINGS
LTM Net Income (GAAP) [3]	$6.4 Bil	—
FY 2026 Net Income (Non-GAAP)	$12.5 Bil	—
FY 2027 Net Income (Non-GAAP)	$26.1 Bil	—
FY 2027 Net Income Growth	108.8%	19.0%
FY 2026 EPS (Non-GAAP)	$7.60	—
FY 2027 EPS (Non-GAAP)	$15.10	—
FY 2027 EPS Growth	98.7%	—
VALUATION
FY 2026 P/S	15.5	1.7
FY 2027 P/S	9.2	—
FY 2026 P/E	63.0	8.1
FY 2027 P/E	30.1	—

[1] AMD forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/27). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 8/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	AMD	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	41.3
Rev Chg Q	50.1%	9.4%
Rev Chg LTM	39.5%	7.9%
Rev Chg 3Y Avg	24.4%	5.8%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	6.5
CFO LTM ($ Bil)	10.1
Net Inc LTM ($ Bil)	6.4
Op Mgn LTM	15.7%	18.5%
CFO/Rev LTM	24.4%	21.8%
Net Inc Mgn	15.6%	13.1%
VALUATION	VERY HIGH
P/S	19.1	3.3
P/CFO	78.2	15.8
P/FCF	93.8	20.3
P/E	122.5	23.9
STABILITY	VERY GOOD
Debt/Equity	0.01	0.19
Cash/Assets	0.16	0.07

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Metric	Value	Date	Source
Desktop CPU Market Share	32.2%	6302025	Link
Server CPU Market Share	27.3%	6302025	Link
Mobile CPU Market Share	20.6%	6302025	Link
Discrete Desktop GPU Market Share	8%	3312025	Link
Data Center Segment Revenue as a Percentage of Total Revenue	46.5%	9272025	Link
Client and Gaming Segment Revenue as a Percentage of Total Revenue	43.3%	9272025	Link
Embedded Segment Revenue as a Percentage of Total Revenue	9.3%	9272025	Link

Price Chart

Upcoming
11/03/2026	Earnings Release	Rev: $12 Bil (E) EPS: $1.89 (E)

Why The Stock Moved

Qualitative Assessment

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Updated on 8/5/2026

Advanced Micro Devices (AMD) stock has gained about 35% since 4/30/2026 because of the following key factors:

1. AMD reported exceptionally strong fiscal Q2 2026 financial results, significantly exceeding analyst expectations, primarily driven by robust growth in its Data Center segment. The company announced non-GAAP diluted earnings per share (EPS) of $1.66, surpassing the consensus estimate of $1.62, and revenue of $11.5 billion, which also beat analyst estimates of $11.31 billion. The Data Center segment revenue doubled year-over-year to $6.7 billion, fueled by strong demand for AMD EPYC processors and AMD Instinct GPUs, representing 58% of the total company revenue.

2. The company provided optimistic fiscal Q3 2026 revenue guidance and a strong outlook for its Data Center business in fiscal 2027. AMD projected Q3 2026 revenue to be approximately $13 billion, indicating a year-over-year growth of about 41% and a sequential increase of approximately 13%. More notably, AMD anticipates its Data Center revenues to more than double year-over-year in fiscal 2027, signaling continued momentum in the high-growth AI and server markets.

3. Strategic partnerships and advancements in AI infrastructure underscored AMD's expanding role in the artificial intelligence market. Key announcements included strategic partnerships with Anthropic to deploy up to 2 gigawatts of AMD Instinct MI450 Series GPUs, and Microsoft's commitment to deploy next-generation AMD Instinct and AMD EPYC processors. AMD also highlighted its Helios rack-scale reference architecture, with volume production expected to ramp up through 2027, and revealed its first 2-nanometer x86 CPU, "Venice," scheduled for release in fiscal Q4 2026.

4. Numerous Wall Street analysts upgraded price targets and ratings, reflecting increased confidence in AMD's AI strategy and financial performance. Multiple firms raised their price targets for AMD in July and August 2026, with some exceeding $600 and even reaching $730. For example, Susquehanna raised its price target from $450 to $500, Wedbush boosted its target from $450 to $600, and UBS increased its target from $700 to $730. Additionally, Zacks Research upgraded AMD from a "hold" to a "strong-buy" rating.

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Stock Movement Drivers

Fundamental Drivers

The 36.4% change in AMD stock from 4/30/2026 to 8/7/2026 was primarily driven by a 24.5% change in the company's Net Income Margin (%).

(LTM values as of)	4302026	8072026	Change
Stock Price ($)	354.49	483.36	36.4%
Change Contribution By:
Total Revenues ($ Mil)	34,639	41,305	19.2%
Net Income Margin (%)	12.5%	15.6%	24.5%
P/E Multiple	133.0	122.6	-7.8%
Shares Outstanding (Mil)	1,627	1,632	-0.3%
Cumulative Contribution			36.4%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/7/2026

	Return	Correlation
AMD	36.4%
Market (SPY)	7.6%	71.5%
Sector (XLK)	17.8%	84.4%

Fundamental Drivers

The 104.2% change in AMD stock from 1/31/2026 to 8/7/2026 was primarily driven by a 50.9% change in the company's Net Income Margin (%).

(LTM values as of)	1312026	8072026	Change
Stock Price ($)	236.73	483.36	104.2%
Change Contribution By:
Total Revenues ($ Mil)	32,027	41,305	29.0%
Net Income Margin (%)	10.3%	15.6%	50.9%
P/E Multiple	116.4	122.6	5.3%
Shares Outstanding (Mil)	1,626	1,632	-0.4%
Cumulative Contribution			104.2%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/7/2026

	Return	Correlation
AMD	104.2%
Market (SPY)	12.1%	63.4%
Sector (XLK)	30.8%	79.8%

Fundamental Drivers

The 174.2% change in AMD stock from 7/31/2025 to 8/7/2026 was primarily driven by a 94.1% change in the company's Net Income Margin (%).

(LTM values as of)	7312025	8072026	Change
Stock Price ($)	176.31	483.36	174.2%
Change Contribution By:
Total Revenues ($ Mil)	27,750	41,305	48.8%
Net Income Margin (%)	8.0%	15.6%	94.1%
P/E Multiple	128.3	122.6	-4.4%
Shares Outstanding (Mil)	1,620	1,632	-0.7%
Cumulative Contribution			174.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/7/2026

	Return	Correlation
AMD	174.2%
Market (SPY)	23.4%	56.4%
Sector (XLK)	43.7%	71.3%

Fundamental Drivers

The 322.5% change in AMD stock from 7/31/2023 to 8/7/2026 was primarily driven by a 809.6% change in the company's Net Income Margin (%).

(LTM values as of)	7312023	8072026	Change
Stock Price ($)	114.40	483.36	322.5%
Change Contribution By:
Total Revenues ($ Mil)	23,067	41,305	79.1%
Net Income Margin (%)	1.7%	15.6%	809.6%
P/E Multiple	466.6	122.6	-73.7%
Shares Outstanding (Mil)	1,611	1,632	-1.3%
Cumulative Contribution			322.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/7/2026

	Return	Correlation
AMD	322.5%
Market (SPY)	74.9%	60.9%
Sector (XLK)	114.7%	71.8%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
AMD Return	57%	-55%	128%	-18%	77%	128%	434%
Peers Return	59%	-41%	107%	63%	33%	71%	615%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	105%
Monthly Win Rates [3]
AMD Win Rate	50%	33%	58%	42%	42%	75%
Peers Win Rate	63%	40%	68%	60%	57%	57%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
AMD Max Drawdown	-25%	-63%	-27%	-44%	-40%	-26%
Peers Max Drawdown	-24%	-51%	-20%	-36%	-40%	-35%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: INTC, NVDA, AVGO, QCOM, MRVL. See AMD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)

Event	AMD	S&P 500
2025 US Tariff Shock
% Loss	-31.8%	-18.8%
% Gain to Breakeven	46.6%	23.1%
Time to Breakeven	36 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-30.1%	-7.8%
% Gain to Breakeven	43.0%	8.5%
Time to Breakeven	371 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-17.1%	-9.5%
% Gain to Breakeven	20.6%	10.5%
Time to Breakeven	12 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-62.8%	-24.5%
% Gain to Breakeven	168.6%	32.4%
Time to Breakeven	459 days	427 days
2020 COVID-19 Crash
% Loss	-34.3%	-33.7%
% Gain to Breakeven	52.2%	50.9%
Time to Breakeven	128 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-41.4%	-19.2%
% Gain to Breakeven	70.8%	23.8%
Time to Breakeven	100 days	105 days

Compare to INTC, NVDA, AVGO, QCOM, MRVL

In The Past

Advanced Micro Devices's stock fell -31.8% during the 2025 US Tariff Shock. Such a loss loss requires a 46.6% gain to breakeven.

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Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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Event	AMD	S&P 500
2025 US Tariff Shock
% Loss	-31.8%	-18.8%
% Gain to Breakeven	46.6%	23.1%
Time to Breakeven	36 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-30.1%	-7.8%
% Gain to Breakeven	43.0%	8.5%
Time to Breakeven	371 days	18 days
2022 Inflation Shock & Fed Tightening
% Loss	-62.8%	-24.5%
% Gain to Breakeven	168.6%	32.4%
Time to Breakeven	459 days	427 days
2020 COVID-19 Crash
% Loss	-34.3%	-33.7%
% Gain to Breakeven	52.2%	50.9%
Time to Breakeven	128 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-41.4%	-19.2%
% Gain to Breakeven	70.8%	23.8%
Time to Breakeven	100 days	105 days
2014-2016 Oil Price Collapse
% Loss	-61.2%	-6.8%
% Gain to Breakeven	157.4%	7.3%
Time to Breakeven	302 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-41.5%	-17.9%
% Gain to Breakeven	71.1%	21.8%
Time to Breakeven	162 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-29.4%	-15.4%
% Gain to Breakeven	41.6%	18.2%
Time to Breakeven	2347 days	125 days
2008-2009 Global Financial Crisis
% Loss	-76.8%	-53.4%
% Gain to Breakeven	331.7%	114.4%
Time to Breakeven	373 days	1085 days
Summer 2007 Credit Crunch
% Loss	-24.2%	-8.6%
% Gain to Breakeven	32.0%	9.5%
Time to Breakeven	3947 days	47 days

Compare to INTC, NVDA, AVGO, QCOM, MRVL

In The Past

Advanced Micro Devices's stock fell -31.8% during the 2025 US Tariff Shock. Such a loss loss requires a 46.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Advanced Micro Devices (AMD)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Advanced Micro Devices (AMD) is a global semiconductor company that specializes in designing and producing a wide range of high-performance microprocessors and graphics processing units (GPUs). The company operates primarily through two segments: Computing and Graphics, and Enterprise, Embedded and Semi-Custom. AMD is a critical provider of the foundational computing technology that powers everything from personal computers to advanced data centers.

AMD's main product categories include central processing units (CPUs) and graphics processing units (GPUs). For desktop and notebook personal computers, it offers CPUs under brands like AMD Ryzen and Athlon, and discrete GPUs under AMD Radeon graphics. Its powerful AMD EPYC microprocessors are designed for servers, while professional graphics products include AMD Radeon Pro and AMD FirePro. Furthermore, AMD provides high-performance accelerators like Radeon Instinct and AMD Instinct for data centers and AI applications, and is a key supplier of semi-custom System-on-Chip (SoC) products, notably for leading game consoles.

The company serves a diverse global customer base that includes major original equipment manufacturers (OEMs) for PCs and servers, public cloud service providers, and original design manufacturers (ODMs). AMD's technology is also integral to game console manufacturers. It reaches its markets through a combination of direct sales, independent distributors, sales representatives, system integrators, online retailers, and add-in-board manufacturers, ensuring its products are widely adopted across various computing and entertainment industries.

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AMD is a semiconductor company that directly challenges Intel for computer processors (CPUs) and NVIDIA for graphics cards and AI accelerators (GPUs).

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x86 Microprocessors (APUs): Processors designed for desktop and notebook personal computers, often integrating CPU and GPU cores.
Chipsets: Components that facilitate communication between the processor, memory, and other peripherals within a system.
Graphics Processing Units (GPUs): Discrete and integrated graphics cards for a range of applications, including consumer PCs, professional workstations, and data centers.
Server and Embedded Processors: High-performance processors specifically designed for use in servers, data centers, and specialized embedded computing systems.
Semi-custom System-on-Chip (SoC) Products: Integrated circuits tailored to customer specifications, often combining CPU, GPU, and multimedia technologies, such as those used in game consoles.
Development Services: Services that assist with the design and integration of AMD's CPU, GPU, and multimedia technologies into customer-specific solutions.

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Advanced Micro Devices (AMD) primarily operates on a Business-to-Business (B2B) model, selling its processors, graphics cards, and semi-custom solutions to other companies that integrate them into their final products or services.

The company's major customers include:

Microsoft Corp. (MSFT): A significant customer for AMD's custom System-on-Chip (SoC) products used in Xbox game consoles, as well as for server processors (EPYC) and accelerators in its Azure cloud computing services.
Sony Group Corp. (SONY): Another major customer for AMD's custom SoC products powering the PlayStation series of game consoles.
Hewlett-Packard (HP) Inc. (HPQ): A leading Original Equipment Manufacturer (OEM) that incorporates AMD CPUs and GPUs into its desktop and notebook personal computers.
Dell Technologies Inc. (DELL): A prominent OEM for personal computers and servers, utilizing AMD processors and graphics solutions in its product lines.
Alphabet Inc. (GOOGL): The parent company of Google Cloud, which deploys AMD EPYC server processors in its data centers to power its cloud computing services.
Amazon.com Inc. (AMZN): Through its Amazon Web Services (AWS) division, Amazon utilizes AMD EPYC server processors to deliver cloud infrastructure services.
Lenovo Group Ltd. (HKG: 0992): A major global OEM for personal computers, workstations, and servers that integrates AMD's CPUs and GPUs into a wide range of its products.

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Taiwan Semiconductor Manufacturing Company (TSM)
GlobalFoundries (GFS)
ASE Technology Holding Co., Ltd. (ASX)
Amkor Technology, Inc. (AMKR)

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Lisa Su, Chair and Chief Executive Officer

Lisa Su joined AMD in 2012 and became President and CEO in October 2014, leading a significant turnaround of the company. Before AMD, she held senior leadership roles at Freescale Semiconductor, Inc., including Senior Vice President and General Manager of Networking and Multimedia, and Chief Technology Officer. Prior to Freescale, she spent 13 years at IBM in various engineering and business leadership positions, including Vice President of the Semiconductor Research and Development Center. At IBM, she was involved in developing silicon-on-insulator semiconductor manufacturing technologies and more efficient semiconductor chips, and she formed IBM's Emerging Products group, helping to transform industry standards by replacing aluminum interconnects with copper ones.

Jean Hu, Executive Vice President, Chief Financial Officer, and Treasurer

Jean Hu joined AMD in January 2023. Before joining AMD, she served as CFO of Marvell Technology Group Ltd. from August 2016 to January 2023. She also held CFO roles at QLogic Corporation from April 2011 to August 2016 and served as acting CEO of QLogic from May 2013 to February 2014 and from August 2015 to August 2016. Additionally, she was CFO and Senior Vice President, Business Development at Conexant Systems, Inc. from 2004 to 2011. She serves on the board of directors at Fortinet.

Mark Papermaster, Executive Vice President and Chief Technology Officer

Mark Papermaster joined AMD in October 2011 and is responsible for the company's technical direction and product development, including leading the development of the "Zen" CPU architecture. Before AMD, he was the leader of Cisco's Silicon Engineering Group (2010-2011), Senior Vice President of Devices Hardware Engineering at Apple Inc. for iPod and iPhone products (2008-2010), and held multiple leadership roles at IBM for 26 years (1982-2008), involved in PowerPC technology development and the blade server division.

Rick Bergman, Executive Vice President of Computing and Graphics

Rick Bergman is currently AMD's Executive Vice President of Computing and Graphics, a role he returned to in 2019. He initially joined AMD in 2006 following its acquisition of ATI Technologies. From 2011 to 2019, he served as President and CEO of Synaptics. Before ATI, he held senior management positions at S3 Graphics, Texas Instruments, and IBM. He also served on the board of Maxwell Technologies from 2015 until its acquisition by Tesla in 2019 and was President and CEO of Kymeta Corporation from April 2024 to November 2025.

Victor Peng, President, Adaptive and Embedded Computing Group

Victor Peng rejoined AMD in 2022 as President, Adaptive and Embedded Computing Group, following AMD's acquisition of Xilinx. He previously served as President and CEO of Xilinx from 2018 to 2022, and prior to that, was COO and Executive Vice President & General Manager of Products at Xilinx. Before joining Xilinx in 2008, Peng worked at AMD as Corporate Vice President of the graphics products group silicon engineering. He has held executive and engineering leadership roles at TZero Technologies, MIPS Technologies, Silicon Graphics (SGI), and Digital Equipment Corporation. He announced his retirement from his presidential role at AMD effective August 30, 2024, continuing in an advisory capacity. In February 2025, he joined the Board of Directors of Microchip Technology, and he has also served on the Board of Directors of KLA Corporation since 2019.

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Advanced Micro Devices (AMD) faces several key risks to its business, primarily stemming from the highly competitive nature of the semiconductor industry, cyclical demand for certain products, and its manufacturing model.

Intense Competition and Rapid Technological Obsolescence: AMD operates in highly competitive markets for microprocessors (CPUs) and graphics processing units (GPUs), where it directly competes with established giants like Intel and NVIDIA. AMD's success relies heavily on its ability to continuously innovate and introduce new products with superior features and performance on a timely basis. Failure to keep pace with technological advancements, particularly in critical areas like AI accelerators where NVIDIA holds a dominant position with its CUDA software ecosystem, could lead to a loss of market share and reduced revenue. Intel's aggressive product roadmaps also pose a constant threat in the client and server CPU segments.
Decline in Gaming Segment Revenue due to Maturing Console Cycles and Customer Concentration: A significant portion of AMD's semi-custom System-on-Chip (SoC) revenue is derived from providing processors for game consoles such as the Sony PlayStation and Microsoft Xbox. These console markets are cyclical, and as current console generations mature, demand for these SoCs naturally declines, leading to a contraction in AMD's gaming segment revenue. AMD's reliance on a limited number of key customers for these high-volume semi-custom products makes it vulnerable to fluctuations in console sales and potential shifts in supplier choices by these manufacturers. For instance, the gaming segment experienced a significant year-over-year decline in revenue in early 2024 due to waning demand as consoles entered their fifth year in the market.
Dependence on Third-Party Manufacturing and Supply Chain Disruptions: Advanced Micro Devices operates a fabless business model, meaning it relies on third-party foundries, primarily Taiwan Semiconductor Manufacturing Company (TSMC), for the manufacturing of its chips. This dependence exposes AMD to risks related to manufacturing capacity constraints, potential production issues at these foundries, and broader global supply chain disruptions. Such issues can lead to product shortages, delays in bringing new products to market, increased costs, and ultimately, an inability to meet customer demand, thereby negatively impacting revenue and profitability.

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The clear emerging threats for Advanced Micro Devices (AMD) are:

The increasing trend among major customers, particularly public cloud service providers, to design and develop their own custom silicon (CPUs and AI accelerators) for their data centers. This strategic shift directly threatens AMD's market share and revenue from its EPYC server processors and Instinct accelerators by reducing reliance on external vendors for these critical components.
The growing adoption and performance capabilities of ARM-based processors in core AMD markets, specifically for desktop personal computers, notebooks, and servers. The success of ARM-based solutions like Apple Silicon and the push by other companies into Windows on ARM, alongside the increasing use of ARM server processors by cloud providers, presents a fundamental architectural challenge to AMD's predominant x86 offerings in these segments.

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Advanced Micro Devices (AMD) participates in several large and growing addressable markets for its main products and services:

Computing and Graphics Segment:
- Processors for Desktop and Notebook Personal Computers (CPUs): The global PC Processor Market was valued at approximately USD 120.15 billion in 2024 and is projected to reach USD 168.26 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 4.3%.
- Discrete and Integrated Graphics Processing Units (GPUs) for PCs: The global discrete GPU market was valued at USD 11.71 billion in 2023 and is anticipated to reach USD 18.67 billion by 2032, expanding at a CAGR of 6.5%. The broader global Graphics Card Market, which includes both discrete and integrated, was valued at USD 23.57 billion in 2025 and is projected to grow to USD 97.4 billion by 2034, exhibiting a CAGR of 17.0%. The overall global GPU market is projected to expand from USD 82.99 billion in 2025 to USD 325.96 billion by 2031, registering a CAGR of 25.61%.
Enterprise, Embedded and Semi-Custom Segment:
- Data Center and Professional GPUs (Accelerators): AMD projects the overall data center total addressable market (TAM) to reach USD 1 trillion by 2030 globally, growing from an estimated USD 200 billion in 2025 at a CAGR of over 40%. Specifically for AI accelerators, AMD estimates this market will exceed USD 526 billion by 2028 globally. Other reports suggest the global data center accelerator market was estimated at USD 68.0 billion in 2024 and is projected to reach USD 393.8 billion by 2030, with a CAGR of 34.0%.
- Server and Embedded Processors: The global CPU for Server market was valued at USD 21.45 billion in 2024 and is projected to grow to USD 33.26 billion by 2031, exhibiting a CAGR of 6.2%. Another estimate for the global Server Microprocessor Market is USD 24.0 billion in 2025, expected to reach USD 43.0 billion by 2035 at a CAGR of 6.0%. For embedded solutions, AMD has secured over USD 50 billion in design wins since 2022 for its adaptive and embedded portfolio, which also includes semi-custom solutions.
- Semi-Custom System-on-Chip (SoC) products (Game Consoles): AMD provides custom chips for leading game consoles such as the Sony PlayStation and Microsoft Xbox. AMD has powered over one billion gaming devices, including game consoles, with its processors and graphics from 2008 to 2025. The value of AMD's secured semi-custom designs for various customers, including those in gaming, has been reported as $15 billion since 2022.

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Advanced Micro Devices (AMD) is expected to drive future revenue growth over the next 2-3 years through several key areas:

Accelerated Demand for Data Center AI Processors (Instinct GPUs): AMD anticipates significant growth from its Instinct MI300 series GPUs, including the MI350, MI450, and future MI500 series, which are designed for artificial intelligence and high-performance computing. The company expects its data center AI revenues to achieve a compound annual growth rate (CAGR) of over 80% in the next 3-5 years. This growth is fueled by substantial multi-year deals with major hyperscalers, such as Meta Platforms, which is poised to deploy up to 6 gigawatts (GW) of Instinct GPUs, and a partnership with OpenAI to deploy 6 GW of chips starting in the second half of 2026. AMD's strategy to foster an open software ecosystem with ROCm 7 is also aimed at reducing developer switching costs from competitors.
Expansion and Market Share Gains in Server CPUs (EPYC Processors): AMD's EPYC server processors are a crucial driver, benefiting from strong demand and an expanding market. The company aims to achieve more than 50% server CPU revenue market share. The overall server CPU market is projected to grow by strong double digits in 2026, with AI-driven CPU workloads contributing significantly to this expansion, projected to fuel an 18% annual growth rate by 2030. Next-generation EPYC CPUs, such as "Turin" (based on Zen 5 architecture) and "Venice" (2nm), are expected to further bolster market share gains in cloud and enterprise environments.
Growth in the Client and Gaming Segments: AMD expects to achieve a greater than 10% revenue CAGR across its Client and Gaming businesses. The client business, driven by AMD Ryzen processors, experienced 34% year-over-year growth in Q4 2025. AMD projects it will exceed 40% client revenue market share. The introduction of new Ryzen processors featuring integrated AI accelerators, such as the Ryzen 8000 series and upcoming "Strix Point," is set to capitalize on the emerging "AI PC" market, contributing to continued growth in 2026 despite potential broader market contractions.
Diversification and Expansion in the Embedded Segment: The Embedded segment, encompassing adaptive SoCs, FPGAs, embedded x86 processors, and semi-custom silicon, returned to growth in Q4 2025. AMD anticipates a greater than 10% revenue CAGR for this segment and aims to exceed 70% revenue market share. The company plans to expand opportunities by growing its embedded x86 and semi-custom silicon markets, with automotive AI identified as a multi-billion dollar growth opportunity.

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Share Repurchases

In May 2025, Advanced Micro Devices (AMD) authorized a new $6 billion share repurchase program. This increased the total repurchase authority to approximately $10 billion, adding to the remaining balance of its existing program.
AMD repurchased $1.3 billion in stock in 2025. As of December 27, 2025, approximately $9.4 billion remained available for future stock repurchases under the program.
In February 2022, AMD approved a new $8 billion share repurchase program, building on a $4 billion program announced in May 2021. Under the May 2021 program, approximately $3 billion of shares had been repurchased.

Share Issuance

As part of the ZT Systems acquisition in March and October 2025, AMD issued 9.1 million shares of its common stock.
In February 2026, AMD issued Meta Platforms a performance-based warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones associated with Instinct GPU shipments are achieved under their strategic partnership.
AMD issued a warrant to OpenAI in October 2025 to purchase up to an aggregate of 160 million shares of AMD's common stock at an exercise price of $0.01 per share, contingent on certain GPU purchase milestones and stock performance.

Outbound Investments

AMD completed the acquisition of ZT Systems in March and October 2025, which involved a total of $2.0 billion in cash (net of cash acquired) and the issuance of 9.1 million shares of common stock, aimed at strengthening AI infrastructure.
In February 2026, AMD announced a strategic investment of $150 million in Nutanix common stock and up to $100 million for joint engineering initiatives, as part of a multi-year strategic partnership to develop an open and scalable platform for enterprise AI.
AMD made several acquisitions to bolster its AI capabilities, including Nod.ai (October 2023) for open-source AI software, Silo AI (July 2024, for $665 million) for AI model development, and Mipsology (August 2023) for AI inference software.

Capital Expenditures

AMD's capital expenditures for fiscal year 2025 reached $974 million, marking a peak in the last five years.
The average capital expenditures for fiscal years 2021 to 2025 was $581.4 million. Capital expenditures increased annually from $301 million in 2021 to $974 million in 2025.
Expected capital expenditures for the upcoming fiscal year (2026) are projected to be approximately $1,371.6 million, supporting increased investments in product development, AI solutions, and go-to-market strategies.

Interactive Breakdown

Advanced Micro Devices Interactive Breakdown Analysis

Better Bets vs. Advanced Micro Devices (AMD)

AVGO (2.0%)

Broadcom

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AMD: 24.4% | 19.1x)

LLY (39.4% | 13.3x)

Eli Lilly

GE (26.2% | 7.6x)

GE Aerospace

WELL (27.6% | 13.4x)

Welltower

NEM (32.1% | 4.7x)

Newmont

APP (44.4% | 17.1x)

AppLovin

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AMD: 24.4% | 121.6x)

LLY (39.4% | 26.7x)

Eli Lilly

GE (26.2% | 40.7x)

GE Aerospace

NEM (32.1% | 8.5x)

Newmont

APP (44.4% | 22.0x)

AppLovin

MELI (40.5% | 31.8x)

MercadoLibre

Higher Rev Chg LTM (Value for AMD: 39.5%)

APP (60.6%)

AppLovin

AEM (50.3%)

Agnico Eagle Mines

LLY (49.6%)

Eli Lilly

MELI (46.0%)

MercadoLibre

COF (45.1%)

Capital One Financial

Higher Rev Chg 3Y Avg (Value for AMD: 24.4%)

APP (44.4%)

AppLovin

LLY (39.4%)

Eli Lilly

NEM (32.1%)

Newmont

WELL (27.6%)

Welltower

GE (26.2%)

GE Aerospace

Higher Op Mgn LTM (Value for AMD: 15.7%)

LLY (49.7%)

Eli Lilly

META (38.1%)

Meta Platforms

PM (37.7%)

Philip Morris International

GOOGL (33.1%)

Alphabet

WM (18.5%)

Waste Management

Higher CFO/Rev LTM (Value for AMD: 24.4%)

META (57.1%)

Meta Platforms

GOOGL (41.6%)

Alphabet

LLY (35.3%)

Eli Lilly

PM (33.5%)

Philip Morris International

WM (25.4%)

Waste Management

Higher FCF/Rev LTM (Value for AMD: 20.3%)

BAC (78.2%)

Bank of America

V (47.2%)

Visa

MA (45.5%)

Mastercard

PM (29.9%)

Philip Morris International

JNJ (22.7%)

Johnson & Johnson

Higher Total Yield (Value for AMD: 0.8%)

BRK-B (6.4%)

Berkshire Hathaway

GOOGL (5.9%)

Alphabet

META (4.9%)

Meta Platforms

AMZN (4.6%)

Amazon.com

PM (0.8%)

Philip Morris International

Best Bets in Information Technology

What You Pay

P/EBIT (Value for AMD: 102.6x)

VRSN (22.7x)

VeriSign

NVDA (28.7x)

NVIDIA

IDCC (23.0x)

InterDigital

QLYS (26.6x)

Qualys

YOU (20.6x)

Clear Secure

ADEA (15.4x)

Adeia

GEN (8.4x)

Gen Digital

ADBE (11.4x)

Adobe

FICO (18.9x)

Fair Isaac

INTU (14.7x)

Intuit

P/E (Value for AMD: 122.6x)

VRSN (31.5x)

VeriSign

NVDA (34.1x)

NVIDIA

IDCC (29.5x)

InterDigital

QLYS (31.1x)

Qualys

YOU (35.0x)

Clear Secure

ADEA (25.4x)

Adeia

GEN (16.6x)

Gen Digital

ADBE (14.7x)

Adobe

FICO (29.0x)

Fair Isaac

INTU (19.6x)

Intuit

What You Get

Rev Chg 3Y Avg (Value for AMD: 24.4%)

VRSN (5.3%)

VeriSign

NVDA (121.7%)

NVIDIA

IDCC (15.6%)

InterDigital

QLYS (10.3%)

Qualys

YOU (24.0%)

Clear Secure

ADEA (7.0%)

Adeia

GEN (12.8%)

Gen Digital

ADBE (11.0%)

Adobe

FICO (17.7%)

Fair Isaac

INTU (14.2%)

Intuit

Rev Chg LTM (Value for AMD: 39.5%)

VRSN (6.9%)

VeriSign

NVDA (70.7%)

NVIDIA

IDCC (-11.7%)

InterDigital

QLYS (10.4%)

Qualys

YOU (19.8%)

Clear Secure

ADEA (24.3%)

Adeia

GEN (20.2%)

Gen Digital

ADBE (11.5%)

Adobe

FICO (24.1%)

Fair Isaac

INTU (15.1%)

Intuit

Rev Chg Q (Value for AMD: 50.1%)

VRSN (6.0%)

VeriSign

NVDA (85.2%)

NVIDIA

IDCC (-13.4%)

InterDigital

QLYS (11.0%)

Qualys

YOU (26.6%)

Clear Secure

ADEA (12.1%)

Adeia

GEN (6.3%)

Gen Digital

ADBE (12.7%)

Adobe

FICO (25.7%)

Fair Isaac

INTU (10.4%)

Intuit

FCF/Rev 3Y Avg (Value for AMD: 13.3%)

VRSN (58.5%)

VeriSign

NVDA (48.3%)

NVIDIA

IDCC (42.5%)

InterDigital

QLYS (42.1%)

Qualys

YOU (41.9%)

Clear Secure

ADEA (41.1%)

Adeia

GEN (39.0%)

Gen Digital

ADBE (37.9%)

Adobe

FICO (37.4%)

Fair Isaac

INTU (34.1%)

Intuit

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	When Doubling Your Business Isn't Good Enough	08/06/2026
2	Can NVIDIA Outrun Advanced Micro Devices in the Next Rally?	08/05/2026
3	5-Day Sell-Off Sends Advanced Micro Devices Stock Down 22%	07/30/2026
4	Does AMD Stock Amplify Your Portfolio Or Balance It?	07/23/2026
5	The Divergent Paths Priced Into Advanced Micro Devices Stock	07/22/2026
6	Advanced Micro Devices Stock Is On Sale, But Is It A Bargain?	07/17/2026
7	AMD Stock: Collect 14% While Setting A 50%-Off Buy Price	07/15/2026
8	Why CRDO, NVDA May Be Better Than Advanced Micro Devices Stock	07/14/2026
9	Does Advanced Micro Devices Stock Have More Upside?	07/07/2026
10	Your Funds Quietly Made A Big Bet On AMD	07/02/2026
11	ARTICLES
12	The Toughest Questions AMD Faced On Its Latest Call	08/07/2026
13	AMD’s Record Quarter Landed With A Margin Guide That Did Not Move	08/06/2026
14	The Growth That Has To Land For Advanced Micro Devices Stock to Make Sense	07/30/2026
15	Advanced Micro Devices Stock: 5 Straight Red Days, Down 22%	07/30/2026
16	AMD Stock’s Surge Was Already Visible In Its Own Earnings Calls	07/28/2026

	Title
0	DASHBOARDS
1	When Doubling Your Business Isn't Good Enough
2	Can NVIDIA Outrun Advanced Micro Devices in the Next Rally?
3	5-Day Sell-Off Sends Advanced Micro Devices Stock Down 22%
4	Does AMD Stock Amplify Your Portfolio Or Balance It?
5	The Divergent Paths Priced Into Advanced Micro Devices Stock
6	Advanced Micro Devices Stock Is On Sale, But Is It A Bargain?
7	AMD Stock: Collect 14% While Setting A 50%-Off Buy Price
8	Why CRDO, NVDA May Be Better Than Advanced Micro Devices Stock
9	Does Advanced Micro Devices Stock Have More Upside?
10	Your Funds Quietly Made A Big Bet On AMD
11	ARTICLES
12	The Toughest Questions AMD Faced On Its Latest Call
13	AMD’s Record Quarter Landed With A Margin Guide That Did Not Move
14	The Growth That Has To Land For Advanced Micro Devices Stock to Make Sense
15	Advanced Micro Devices Stock: 5 Straight Red Days, Down 22%
16	AMD Stock’s Surge Was Already Visible In Its Own Earnings Calls

Trade Ideas

Select ideas related to AMD.

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RING	iShares MSCI Global Gold Miners ETF	Equity	7.8%	5.9%
NASA	Tema Space Innovators ETF	Equity	5.8%	1.5%
ARKK	ARK Innovation ETF	Equity	4.9%	3.3%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	4.5%	-0.0%
URA	Global X Uranium ETF	Equity	4.0%	5.1%
ARKX	ARK Space & Defense Innovation ETF	Equity	3.8%	-1.8%
ARKQ	ARK Autonomous Technology & Robotics ETF	Equity	3.8%	11.5%
IGV	iShares Expanded Tech-Software Sector...	Equity	3.3%	-2.8%
ARKW	ARK Next Generation Internet ETF	Equity	3.1%	0.1%
SLV	iShares Silver Trust	Commodity	3.0%	-10.7%

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Ticker	Company	Category	1D Rtn	YTD Rtn
EWZ	iShares MSCI Brazil ETF	Equity	-1.3%	11.2%
XLE	State Street Energy Select Sector SPD...	Equity	-1.1%	29.4%
ILF	iShares Latin America 40 ETF	Equity	-0.8%	13.7%
USO	United States Oil Fund LP	Commodity	-0.7%	70.6%
FXN	First Trust Energy AlphaDEX Fund	Equity	-0.5%	30.7%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	-0.4%	32.3%
KRE	State Street SPDR S&P Regional Bankin...	Equity	-0.4%	18.3%
XLF	State Street Financial Select Sector ...	Equity	-0.4%	5.7%
IYJ	iShares U.S. Industrials ETF	Equity	-0.1%	13.8%
JEPI	JPMorgan Equity Premium Income ETF	Equity	-0.0%	4.8%

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Ticker	Company	Category	1W Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	22.3%	5.9%
NASA	Tema Space Innovators ETF	Equity	18.2%	1.5%
URA	Global X Uranium ETF	Equity	14.9%	5.1%
ARKX	ARK Space & Defense Innovation ETF	Equity	12.0%	-1.8%
ARKK	ARK Innovation ETF	Equity	11.5%	3.3%
ARKQ	ARK Autonomous Technology & Robotics ETF	Equity	11.1%	11.5%
GDE	WisdomTree Efficient Gold Plus Equity...	Equity	10.2%	-4.3%
SLV	iShares Silver Trust	Commodity	9.8%	-10.7%
MISL	First Trust Indxx Aerospace & Defense...	Equity	9.7%	10.4%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	9.2%	74.5%

Top Losers

Ticker	Company	Category	1W Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	-8.7%	70.6%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	-6.2%	32.3%
EWZ	iShares MSCI Brazil ETF	Equity	-3.6%	11.2%
XLE	State Street Energy Select Sector SPD...	Equity	-3.4%	29.4%
UNG	United States Natural Gas Fund LP	Commodity	-3.2%	-20.6%
FXN	First Trust Energy AlphaDEX Fund	Equity	-3.0%	30.7%
ILF	iShares Latin America 40 ETF	Equity	-2.1%	13.7%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	-1.8%	29.3%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	-1.8%	30.2%
XLU	State Street Utilities Select Sector ...	Equity	-1.7%	2.9%

Top Gainers

Ticker	Company	Category	1M Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	19.8%	5.9%
PALL	ETFS Physical Palladium Shares	Commodity	10.4%	-13.8%
ETHA	iShares Ethereum Trust ETF	Cryptocurrency	9.7%	-35.5%
IGV	iShares Expanded Tech-Software Sector...	Equity	9.4%	-2.8%
PPLT	ETFS Physical Platinum Shares	Commodity	8.4%	-15.0%
COWZ	Pacer US Cash Cows 100 ETF	Equity	8.3%	15.4%
FXI	iShares China Large-Cap ETF	Equity	8.3%	-5.5%
KWEB	KraneShares CSI China Internet ETF	Equity	8.2%	-15.8%
USO	United States Oil Fund LP	Commodity	8.2%	70.6%
AKRE	Akre Focus ETF	Equity	7.5%	-10.1%

Top Losers

Ticker	Company	Category	1M Rtn	YTD Rtn
EWY	iShares MSCI South Korea ETF	Equity	-10.1%	70.8%
UNG	United States Natural Gas Fund LP	Commodity	-10.1%	-20.6%
SOXX	iShares Semiconductor ETF	Equity	-6.6%	80.5%
ICLN	iShares Global Clean Energy ETF	Equity	-5.3%	11.4%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-4.7%	74.5%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	-4.5%	-0.0%
NASA	Tema Space Innovators ETF	Equity	-4.3%	1.5%
XBI	State Street SPDR S&P Biotech ETF	Equity	-4.2%	29.1%
SMH	VanEck Semiconductor ETF	Equity	-4.1%	61.8%
MTUM	iShares MSCI USA Momentum Factor ETF	Equity	-3.7%	23.7%

Peer Comparisons

Peers to compare with:

Financials

	AMD	INTC	NVDA	AVGO	QCOM	MRVL	Median
Name	Advanced.	Intel	NVIDIA	Broadcom	Qualcomm	Marvell .
Mkt Price	483.36	101.65	223.96	427.76	167.86	218.72	221.34
Mkt Cap	788.8	518.8	5,439.1	2,030.6	177.4	192.9	653.8
Rev LTM	41,305	57,032	253,491	75,465	44,069	8,717	50,550
Op Inc LTM	6,488	4,308	162,285	33,253	10,258	1,430	8,373
FCF LTM	8,403	2,831	119,076	32,762	10,416	1,662	9,410
FCF 3Y Avg	4,601	-6,899	76,825	24,640	11,535	1,393	8,068
CFO LTM	10,080	14,936	125,648	33,622	12,401	2,056	13,668
CFO 3Y Avg	5,624	12,178	80,777	25,266	12,903	1,744	12,541

Growth & Margins

	AMD	INTC	NVDA	AVGO	QCOM	MRVL	Median
Name	Advanced.	Intel	NVIDIA	Broadcom	Qualcomm	Marvell .
Rev Chg LTM	39.5%	7.5%	70.7%	32.3%	1.9%	34.1%	33.2%
Rev Chg 3Y Avg	24.4%	1.9%	121.7%	29.3%	4.8%	16.0%	20.2%
Rev Chg Q	50.1%	25.4%	85.2%	47.9%	-4.0%	27.6%	37.7%
QoQ Delta Rev Chg LTM	10.3%	6.1%	17.4%	10.5%	-0.9%	6.4%	8.3%
Op Inc Chg LTM	164.5%	198.0%	88.3%	55.5%	-15.9%	3,466.6%	126.4%
Op Inc Chg 3Y Avg	225.5%	-214.9%	376.9%	31.7%	-0.6%	1,056.4%	128.6%
Op Mgn LTM	15.7%	7.6%	64.0%	44.1%	23.3%	16.4%	19.8%
Op Mgn 3Y Avg	9.2%	0.1%	60.6%	38.4%	25.6%	2.8%	17.4%
QoQ Delta Op Mgn LTM	4.1%	5.6%	3.6%	2.6%	-2.3%	0.1%	3.1%
CFO/Rev LTM	24.4%	26.2%	49.6%	44.6%	28.1%	23.6%	27.2%
CFO/Rev 3Y Avg	16.4%	22.0%	50.5%	43.2%	31.3%	25.8%	28.6%
FCF/Rev LTM	20.3%	5.0%	47.0%	43.4%	23.6%	19.1%	22.0%
FCF/Rev 3Y Avg	13.3%	-12.8%	48.3%	42.2%	28.1%	20.5%	24.3%

Valuation

	AMD	INTC	NVDA	AVGO	QCOM	MRVL	Median
Name	Advanced.	Intel	NVIDIA	Broadcom	Qualcomm	Marvell .
Mkt Cap	788.8	518.8	5,439.1	2,030.6	177.4	192.9	653.8
P/S	19.1	9.1	21.5	26.9	4.0	22.1	20.3
P/Op Inc	121.6	120.4	33.5	61.1	17.3	134.9	90.7
P/EBIT	102.6	-59.6	28.7	60.4	14.9	58.0	43.3
P/E	122.6	-46.0	34.1	69.3	19.2	76.3	51.7
P/CFO	78.3	34.7	43.3	60.4	14.3	93.8	51.8
Total Yield	0.8%	-2.2%	3.0%	2.0%	7.4%	1.4%	1.7%
Dividend Yield	0.0%	0.0%	0.0%	0.6%	2.2%	0.1%	0.1%
FCF Yield 3Y Avg	1.1%	-6.8%	1.9%	2.0%	5.9%	1.5%	1.7%
D/E	0.0	0.1	0.0	0.0	0.1	0.0	0.0
Net D/E	-0.0	0.0	-0.0	0.0	0.0	0.0	0.0

Returns

	AMD	INTC	NVDA	AVGO	QCOM	MRVL	Median
Name	Advanced.	Intel	NVIDIA	Broadcom	Qualcomm	Marvell .
1M Rtn	-6.6%	-7.8%	9.7%	10.1%	-10.0%	-5.6%	-6.1%
3M Rtn	6.2%	-18.6%	4.2%	-0.4%	-23.1%	28.6%	1.9%
6M Rtn	131.9%	100.9%	20.9%	29.0%	23.5%	172.7%	64.9%
12M Rtn	180.4%	414.2%	24.1%	41.9%	17.5%	189.0%	111.1%
3Y Rtn	326.9%	195.1%	402.4%	402.1%	52.3%	256.3%	291.6%
1M Excs Rtn	-14.4%	-12.5%	7.6%	3.8%	-15.0%	-12.9%	-12.7%
3M Excs Rtn	12.6%	-13.0%	0.3%	-1.9%	-22.6%	31.0%	-0.8%
6M Excs Rtn	137.0%	96.6%	16.3%	24.2%	10.3%	180.8%	60.4%
12M Excs Rtn	174.1%	375.8%	2.7%	20.6%	-4.7%	168.7%	94.7%
3Y Excs Rtn	270.1%	129.7%	335.0%	325.1%	-33.3%	183.5%	226.8%

Comparison Analyses

	Title
0	Advanced Micro Devices vs. Accenture: With Return Forecast Of 56%, Advanced Micro Devices Is A Better Bet
1	Advanced Micro Devices vs. Merck: With Return Forecast Of 56%, Advanced Micro Devices Is A Better Bet
2	Advanced Micro Devices vs. AT&T: With Return Forecast Of 56%, Advanced Micro Devices Is A Better Bet
3	Advanced Micro Devices vs. Intel: With Return Forecast Of 62%, Advanced Micro Devices Is A Better Bet
4	Advanced Micro Devices vs. Microchip Technology: With Return Forecast Of 62%, Advanced Micro Devices Is A Better Bet
5	Advanced Micro Devices vs. NVIDIA: With Return Forecast Of 62%, Advanced Micro Devices Is A Better Bet
6	Advanced Micro Devices vs. Qorvo: With Return Forecast Of 62%, Advanced Micro Devices Is A Better Bet
7	Advanced Micro Devices vs. Carnival: With Return Forecast Of 67%, Advanced Micro Devices Is A Better Bet
8	Advanced Micro Devices vs. Booking: With Return Forecast Of 67%, Advanced Micro Devices Is A Better Bet
9	Advanced Micro Devices vs. McDonald's: With Return Forecast Of 67%, Advanced Micro Devices Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/27	LTM	2025	2024	2023	2022	2021	2020
Period End	6/27/2026	12/27/2025	12/28/2024	12/30/2023	12/31/2022	12/25/2021	12/26/2020
Filing Date	8/5/2026	2/4/2026	2/5/2025	1/31/2024	2/27/2023	2/3/2022	1/29/2021
Key Financials
Total Revenue	41,305	34,639	25,785	22,680	23,601	16,434	9,763
Gross Profit	21,976	17,152	12,725	10,460	10,603	7,929	4,347
EBITDA	10,718	7,275	5,145	4,051	5,534	4,166	1,676
Operating Income	6,488	3,694	2,086	401	1,264	3,648	1,369
Net Income	6,434	4,335	1,641	854	1,320	3,162	2,490
EPS	3.94	2.67	1.01	0.53	0.85	2.61	2.10
Growth Rates
Total Revenue Growth	39.5%	34.3%	13.7%	-3.9%	43.6%	68.3%	45.0%
EBITDA Growth	95.3%	41.4%	27.0%	-26.8%	32.8%	148.6%	131.5%
Operating Income Growth	164.5%	77.1%	420.2%	-68.3%	-65.4%	166.5%	117.0%
Net Income Growth	127.0%	164.2%	92.2%	-35.3%	-58.3%	27.0%	630.2%
Margins
Gross Margin	53.2%	49.5%	49.4%	46.1%	44.9%	48.2%	44.5%
EBITDA Margin	25.9%	21.0%	20.0%	17.9%	23.4%	25.3%	17.2%
Operating Income Margin	15.7%	10.7%	8.1%	1.8%	5.4%	22.2%	14.0%
Net Income Margin	15.6%	12.5%	6.4%	3.8%	5.6%	19.2%	25.5%
Cash & Debt
Total Cash	13,111	10,552	5,132	5,773	5,855	3,608	2,290
Total Debt	4,276	3,847	2,212	3,003	2,863	661	531
Net Debt / (Cash)	-8,835	-6,705	-2,920	-2,770	-2,992	-2,947	-1,759
Cash Flows & CapEx
Net Cash from Operations	10,080	7,709	3,041	1,667	3,565	3,521	1,071
Total CapEx	-1,677	-974	-636	-546	-450	-301	-294
Free Cash from Operations	8,403	6,735	2,405	1,121	3,115	3,220	777
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	1,182	1,923	1,590	1,412	4,108	1,999	78

$ Mil \| FY: 12/27	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	6/27/2026	3/28/2026	12/27/2025	9/27/2025	6/28/2025	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023
Filing Date	8/5/2026	5/6/2026	2/4/2026	11/5/2025	8/6/2025	5/7/2025	2/5/2025	10/30/2024	7/31/2024	5/1/2024	1/31/2024	11/1/2023
Key Financials Quarterly
Total Revenue	11,536	10,253	10,270	9,246	7,685	7,438	7,658	6,819	5,835	5,473	6,168	5,800
Ebitda	3,353	2,398	2,861	2,106	721	1,587	1,663	1,516	1,093	873	1,117	1,131
Operating Income	1,990	1,476	1,752	1,270	-134	806	1,057	724	269	36	342	224
Net Income	2,297	1,383	1,511	1,243	872	709	482	771	265	123	667	299
EPS	1.40	0.85	0.93	0.76	0.54	0.44	0.30	0.48	0.16	0.08	0.41	0.18
Key Financials TTM
Total Revenue TTM	41,305	37,454	34,639	32,027	29,600	27,750	25,785	24,295	23,276	22,800	22,680	22,111
Ebitda TTM	10,718	8,086	7,275	6,077	5,487	5,859	5,145	4,599	4,214	4,020	4,051	4,062
Operating Income TTM	6,488	4,364	3,694	2,999	2,453	2,856	2,086	1,371	871	582	401	-90
Net Income TTM	6,434	5,009	4,335	3,306	2,834	2,227	1,641	1,826	1,354	1,116	854	208
Growth Rates Quarterly
Total Revenue Growth	50.1%	37.8%	34.1%	35.6%	31.7%	35.9%	24.2%	17.6%	8.9%	2.2%	10.2%	4.2%
EBITDA Growth	365.0%	51.1%	72.0%	38.9%	-34.0%	81.8%	48.9%	34.0%	21.6%	-3.4%	-1.0%	-1.3%
Operating Income Growth	1585.1%	83.1%	65.8%	75.4%	-149.8%	2138.9%	209.1%	223.2%	1445.0%	124.8%	329.5%	450.0%
Net Income Growth	163.4%	95.1%	213.5%	61.2%	229.1%	476.4%	-27.7%	157.9%	881.5%	188.5%	3076.2%	353.0%
Margins Quarterly
EBITDA Margin	29.1%	23.4%	27.9%	22.8%	9.4%	21.3%	21.7%	22.2%	18.7%	16.0%	18.1%	19.5%
Operating Income Margin	17.3%	14.4%	17.1%	13.7%	-1.7%	10.8%	13.8%	10.6%	4.6%	0.7%	5.5%	3.9%
Net Income Margin	19.9%	13.5%	14.7%	13.4%	11.3%	9.5%	6.3%	11.3%	4.5%	2.2%	10.8%	5.2%
Cash & Debt
Total Cash	13,111	12,347	10,552	7,243	5,867	7,310	5,132	4,544	5,340	6,035	5,773	5,785
Total Debt	4,276	3,871	3,847	3,870	3,886	4,731	2,212	2,238	2,245	2,998	3,003	2,862
Net Debt / (Cash)	-8,835	-8,476	-6,705	-3,373	-1,981	-2,579	-2,920	-2,306	-3,095	-3,037	-2,770	-2,923
Cash Flows Quarterly
FCF from Operations	2,366	2,955	2,600	2,159	2,011	939	1,299	628	593	521	381	421
Cash Flows TTM
FCF from Operations TTM	10,080	9,725	7,709	6,408	4,877	3,459	3,041	2,123	1,916	1,702	1,667	1,853
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	207	355	160	460	524	779	298	710	449	133	278	806
Return on Invested Capital (ROIC) Quarterly
ROIC	13.7%	12.4%	12.9%	9.9%	-1.1%	6.1%	4.8%	6.2%	2.0%	0.3%	2.9%	1.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	10.6%	10.8%	8.7%	6.6%	5.2%	5.0%	3.7%	2.9%	1.8%	1.2%	0.8%	-0.2%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Data Center	16,635	12,579	6,496	6,043	3,694
Client	10,640	7,054	4,651	6,201	6,887
Gaming	3,910	2,595	6,212	6,805	5,607
Embedded	3,454	3,557	5,321	4,552	246
Total	34,639	25,785	22,680	23,601	16,434

Operating Income by Segment

$ Mil	2025	2024	2023	2022	2021
Data Center	3,603	3,482	1,267	1,848	991
Client and Gaming	2,855	1,187	925
Embedded	1,243	1,421	2,628	2,252	44
All Other	-4,007	-4,190	-4,419	-4,979	-409
Client				1,190	2,088
Gaming				953	934
Total	3,694	1,900	401	1,264	3,648

Assets by Segment

$ Mil	2002	2001	2000	1998
Core products	5,619	5,647
Core Products			5,506
AMD				4,118
Vantis				135
Total	5,619	5,647	5,506	4,253

Price Behavior

Price Behavior

Market Price	$483.36
Market Cap ($ Bil)	788.4
First Trading Date	03/21/1983
Distance from 52W High	-16.8%
	50 Days	200 Days
DMA Price	$507.25	$316.49
DMA Trend	up	up
Distance from DMA	-4.7%	52.7%
	3M	1YR
Volatility	78.6%	71.5%
Downside Capture	424.39	323.42
Upside Capture	371.12	368.22
Correlation (SPY)	71.5%	57.5%

AMD Betas & Captures as of 7/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	4.79	4.00	4.72	3.56	3.13	2.30
Up Beta	11.93	6.34	7.42	3.70	2.91	2.31
Down Beta	1.43	2.80	2.62	2.43	2.69	1.91
Up Capture	223%	442%	806%	1057%	1548%	7047%
Bmk +ve Days	11	22	35	67	138	427
Stock +ve Days	9	21	32	68	132	387
Down Capture	460%	310%	326%	226%	176%	112%
Bmk -ve Days	11	21	28	59	114	326
Stock -ve Days	13	22	31	58	120	364

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AMD
AMD	197.6%	71.6%	1.81	-
Sector ETF (XLK)	43.7%	25.9%	1.36	71.9%
Equity (SPY)	23.3%	12.8%	1.36	57.2%
Gold (GLD)	28.5%	28.4%	0.87	28.2%
Commodities (DBC)	32.9%	19.8%	1.32	-0.4%
Real Estate (VNQ)	14.2%	13.8%	0.72	-6.6%
Bitcoin (BTCUSD)	-44.2%	42.9%	-1.23	34.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AMD
AMD	36.2%	57.0%	0.76	-
Sector ETF (XLK)	20.5%	25.8%	0.71	74.4%
Equity (SPY)	13.5%	17.2%	0.61	64.8%
Gold (GLD)	18.6%	18.6%	0.81	16.1%
Commodities (DBC)	8.2%	19.6%	0.31	9.2%
Real Estate (VNQ)	2.3%	18.9%	0.02	29.0%
Bitcoin (BTCUSD)	8.8%	53.0%	0.35	30.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AMD
AMD	53.6%	57.0%	0.99	-
Sector ETF (XLK)	24.6%	24.9%	0.89	65.3%
Equity (SPY)	15.4%	17.9%	0.73	56.3%
Gold (GLD)	12.1%	16.2%	0.61	12.1%
Commodities (DBC)	7.4%	18.0%	0.33	13.9%
Real Estate (VNQ)	4.8%	20.7%	0.20	27.9%
Bitcoin (BTCUSD)	58.2%	66.2%	0.98	17.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	7152026
Short Interest: Shares Quantity	39.8 Mil
Short Interest: % Change Since 6302026	-4.4%
Average Daily Volume	25.6 Mil
Days-to-Cover Short Interest	1.6 days
Basic Shares Quantity	1,632.0 Mil
Short % of Basic Shares	2.4%

Returns Analyses

	Title
0	The Real Risk in Your Advanced Micro Devices Stock
1	Is Advanced Micro Devices Stock Built to Withstand More Downside?
2	AMD YTD Stock Return Of -10% Underperforms NVDA by -2.1% and Underperforms QRVO by -23%
3	Advanced Micro Devices (AMD) Stock Has 68% Chance Of Rise In The Next One Month
4	Advanced Micro Devices Stock Return Comparison
5	Advanced Micro Devices Total Shareholder Return (TSR): -55.0% in 2022 and 12.2% 3-yr returns (below peer average)

Earnings Returns History

Updated 8/7/2026

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/4/2026	-7.0%
5/5/2026	18.6%	26.2%	47.3%
2/3/2026	-17.3%	-11.8%	-17.6%
11/4/2025	2.5%	-5.0%	-12.8%
8/5/2025	-6.4%	0.4%	-7.2%
5/6/2025	1.8%	14.0%	17.3%
2/4/2025	-6.3%	-7.0%	-17.3%
10/29/2024	-10.6%	-14.8%	-18.1%
...
SUMMARY STATS
# Positive	9	9	12
# Negative	15	14	11
Median Positive	7.6%	14.0%	18.1%
Median Negative	-6.4%	-6.1%	-12.8%
Max Positive	18.6%	26.2%	47.3%
Max Negative	-17.3%	-14.8%	-18.1%

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/4/2026	-7.0%
5/5/2026	18.6%	26.2%	47.3%
2/3/2026	-17.3%	-11.8%	-17.6%
11/4/2025	2.5%	-5.0%	-12.8%
8/5/2025	-6.4%	0.4%	-7.2%
5/6/2025	1.8%	14.0%	17.3%
2/4/2025	-6.3%	-7.0%	-17.3%
10/29/2024	-10.6%	-14.8%	-18.1%
7/30/2024	4.4%	-6.0%	5.7%
4/30/2024	-8.9%	-2.5%	5.3%
1/30/2024	-2.5%	-2.4%	11.9%
10/31/2023	9.7%	15.2%	23.0%
8/1/2023	-7.0%	-3.7%	-9.4%
5/2/2023	-9.2%	5.7%	32.9%
1/31/2023	12.6%	14.3%	7.0%
10/6/2022	-13.9%	-13.1%	-8.3%
8/2/2022	-1.2%	-3.8%	-14.5%
5/3/2022	9.1%	-2.6%	19.2%
2/1/2022	5.1%	9.8%	-4.1%
10/26/2021	-0.5%	3.8%	28.4%
7/27/2021	7.6%	23.7%	19.0%
4/27/2021	-1.4%	-7.7%	-8.1%
1/26/2021	-6.2%	-6.2%	-13.0%
10/27/2020	-4.1%	-9.2%	3.5%
SUMMARY STATS
# Positive	9	9	12
# Negative	15	14	11
Median Positive	7.6%	14.0%	18.1%
Median Negative	-6.4%	-6.1%	-12.8%
Max Positive	18.6%	26.2%	47.3%
Max Negative	-17.3%	-14.8%	-18.1%

SEC Filings

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Report Date	Filing Date	Filing
06/30/2026	08/05/2026	10-Q
03/31/2026	05/06/2026	10-Q
12/31/2025	02/04/2026	10-K
09/30/2025	11/05/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/07/2025	10-Q
12/31/2024	02/05/2025	10-K
09/30/2024	10/30/2024	10-Q
06/30/2024	07/31/2024	10-Q
03/31/2024	05/01/2024	10-Q
12/31/2023	01/31/2024	10-K
09/30/2023	11/01/2023	10-Q
06/30/2023	08/02/2023	10-Q
03/31/2023	05/03/2023	10-Q
12/31/2022	02/27/2023	10-K
09/30/2022	11/02/2022	10-Q

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Report Date	Filing Date	Filing
06/30/2026	08/05/2026	10-Q
03/31/2026	05/06/2026	10-Q
12/31/2025	02/04/2026	10-K
09/30/2025	11/05/2025	10-Q
06/30/2025	08/06/2025	10-Q
03/31/2025	05/07/2025	10-Q
12/31/2024	02/05/2025	10-K
09/30/2024	10/30/2024	10-Q
06/30/2024	07/31/2024	10-Q
03/31/2024	05/01/2024	10-Q
12/31/2023	01/31/2024	10-K
09/30/2023	11/01/2023	10-Q
06/30/2023	08/02/2023	10-Q
03/31/2023	05/03/2023	10-Q
12/31/2022	02/27/2023	10-K
09/30/2022	11/02/2022	10-Q
06/30/2022	08/03/2022	10-Q
03/31/2022	05/04/2022	10-Q
12/31/2021	02/03/2022	10-K
09/30/2021	10/27/2021	10-Q
06/30/2021	07/28/2021	10-Q
03/31/2021	04/28/2021	10-Q
12/31/2020	01/29/2021	10-K
09/30/2020	10/28/2020	10-Q
06/30/2020	07/29/2020	10-Q
03/31/2020	04/29/2020	10-Q
12/31/2019	02/04/2020	10-K
09/30/2019	10/30/2019	10-Q

Recent Forward Guidance

Updated 8/5/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Revenue	12.70 Bil	13.00 Bil	13.30 Bil	16.1%		Higher New	Guidance: 11.20 Bil for Q2 2026
Q3 2026 Non-GAAP Gross Margin		56.0%			0.0%	Same New	Guidance: 56.0% for Q2 2026

Prior: Q1 2026 Earnings Reported 5/5/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	10.90 Bil	11.20 Bil	11.50 Bil	14.3%		Higher New	Guidance: 9.80 Bil for Q1 2026
Q2 2026 Non-GAAP Gross Margin		56.0%			1.0%	Higher New	Guidance: 55.0% for Q1 2026

Q4 2025 Earnings Reported 2/3/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Revenue	9.50 Bil	9.80 Bil	10.10 Bil	2.1%		Higher New	Guidance: 9.60 Bil for Q4 2025
Q1 2026 Non-GAAP Gross Margin		55.0%			0.5%	Higher New	Guidance: 54.5% for Q4 2025

Q3 2025 Earnings Reported 11/4/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2025 Revenue	9.30 Bil	9.60 Bil	9.90 Bil	10.3%		Higher New	Actual: 8.70 Bil for Q3 2025
Q4 2025 Non-GAAP Gross Margin		54.5%			0.5%	Higher New	Actual: 54.0% for Q3 2025

Insider Activity

Updated 7/17/2026

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	7162026	556.43	6,000	3,338,580	686,460,457	Form
2	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	6172026	536.33	6,000	3,217,980	661,663,349	Form
3	Su, Lisa T	Chair, President & CEO	Direct	Sell	6122026	460.69	125,000	57,585,715	1,334,559,991	Form
4	Denzel, Nora		Direct	Sell	6022026	522.00	8,626	4,502,772	45,504,306	Form
5	Denzel, Nora		Direct	Sell	6022026	522.00	1,821	950,562	50,007,078	Form

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	7162026	556.43	6,000	3,338,580	686,460,457	Form
2	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	6172026	536.33	6,000	3,217,980	661,663,349	Form
3	Su, Lisa T	Chair, President & CEO	Direct	Sell	6122026	460.69	125,000	57,585,715	1,334,559,991	Form
4	Denzel, Nora		Direct	Sell	6022026	522.00	8,626	4,502,772	45,504,306	Form
5	Denzel, Nora		Direct	Sell	6022026	522.00	1,821	950,562	50,007,078	Form
6	Norrod, Forrest Eugene	EVP & GM DESG	Direct	Sell	5212026	431.40	19,487	8,406,784	140,002,483	Form
7	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	5192026	433.79	6,000	2,602,740	535,161,084	Form
8	Su, Lisa T	Chair, President & CEO	Direct	Sell	5152026	445.51	125,000	55,688,359	1,346,276,778	Form
9	Grasby, Paul Darren	EVP & CSO	Direct	Sell	5112026	444.39	24,376	10,832,451	46,759,605	Form
10	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	4282026	350.00	31,320	10,962,000	432,612,950	Form
11	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	4162026	275.00	27,109	7,454,975	348,523,175	Form
12	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	4162026	255.54	6,000	1,533,240	330,787,842	Form
13	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	4082026	225.00	3,293	740,925	291,254,850	Form
14	Su, Lisa T	Chair, President & CEO	Direct	Sell	3162026	198.77	85,000	16,895,157	625,320,780	Form
15	Grasby, Paul Darren	EVP & CSO	Direct	Sell	3122026	204.87	7,500	1,536,525	26,550,742	Form
16	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	3052026	200.00	3,034	606,800	259,551,800	Form
17	Hahn, Ava	SVP, GC & Corporate Secretary	Direct	Sell	2192026	198.65	286	56,814	3,419,958	Form
18	Hu, Jean X	EVP, CFO and Treasurer	Direct	Sell	2182026	201.62	19,956	4,023,581	5,030,081	Form
19	Norrod, Forrest Eugene	EVP & GM DESG	Direct	Sell	2122026	216.81	19,450	4,216,969	62,679,548	Form
20	Su, Lisa T	Chair, President & CEO	Direct	Sell	2122026	214.36	125,000	26,794,875	675,761,605	Form
21	Hahn, Ava	SVP, GC & Corporate Secretary	Direct	Sell	1202026	234.42	2,442	572,454	3,834,877	Form
22	Su, Lisa T	Chair, President & CEO	Direct	Sell	12122025	215.14	125,000	26,891,905	705,100,585	Form
23	Grasby, Paul Darren	EVP & CSO	Direct	Sell	12082025	218.77	10,000	2,187,700	29,171,667	Form
24	Hu, Jean X	EVP, CFO and Treasurer	Direct	Sell	11252025	209.96	14,506	3,045,741	5,360,806	Form
25	Norrod, Forrest Eugene	EVP & GM DESG	Direct	Sell	11212025	229.37	19,450	4,461,296	68,891,587	Form
26	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	11172025	240.12	17,108	4,107,935	411,683,151	Form
27	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	10162025	224.28	16,800	3,767,863	384,524,964	Form
28	Hahn, Ava	SVP, GC & Corporate Secretary	Direct	Sell	10072025	226.01	2,868	648,197	2,041,548	Form
29	Norrod, Forrest Eugene	EVP & GM DESG	Direct	Sell	9252025	165.01	2,250	371,272	51,416,786	Form
30	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	9162025	159.20	16,800	2,674,513	272,944,412	Form
31	Norrod, Forrest Eugene	EVP & GM DESG	Direct	Sell	9112025	160.93	17,200	2,768,021	50,508,021	Form
32	Hahn, Ava	SVP, GC & Corporate Secretary	Direct	Sell	9042025	158.10	143	22,608	1,881,548	Form
33	Su, Lisa T	Chair, President & CEO	Direct	Sell	8232025	163.97	225,000	36,893,351	550,899,394	Form
34	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	8192025	178.11	16,800	2,992,244	306,592,843	Form
35	Grasby, Paul Darren	EVP & CSO	Direct	Sell	8122025	173.21	10,000	1,732,100	21,738,721	Form
36	Papermaster, Mark D	Chief Technology Officer & EVP	Direct	Sell	7162025	155.03	17,998	2,790,187	265,672,383	Form

Investor Activity (13F)

Updated Aug 8, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Ossiam	$808.3 Mil	14.2%	388	ADD +39.7%	13F
Dream Peak Capital Ltd	$91.5 Mil	13.6%	6	New	13F
Light Street Capital Management, LLC	$44.6 Mil	9.0%	23	Hold	13F
Once Capital Management, LLC	$25.5 Mil	6.8%	22	Hold	13F
ADAPT Investment Managers SA	$19.0 Mil	6.5%	34	New	13F
Columbus Hill Capital Management, L.P.	$36.5 Mil	6.2%	21	ADD +42.8%	13F
Soma Equity Partners LP	$79.1 Mil	5.8%	20	TRIM -25.3%	13F
Estuary Capital Management LP	$34.5 Mil	5.8%	22	Hold	13F
Eminence Capital, LP	$239.4 Mil	5.5%	33	ADD +21.5%	13F
Firetrail Investments PTY LTD	$15.5 Mil	5.3%	28	Hold	13F
Nepsis Inc.	$15.7 Mil	5.3%	29	Hold	13F
Generali Powszechne Towarzystwo Emerytalne	$28.5 Mil	5.0%	28	Hold	13F
Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group	$12.4 Mil	4.7%	28	TRIM -42.0%	13F
Southpoint Capital Advisors LP	$183.1 Mil	3.8%	41	ADD +50.0%	13F
Glenview Capital Management, LLC	$132.4 Mil	3.6%	41	ADD +65.1%	13F
Tairen Capital Ltd	$32.6 Mil	3.5%	44	New	13F
California First Leasing Corp	$11.0 Mil	3.5%	39	Hold	13F
Ithaka Group LLC	$15.9 Mil	3.3%	38	Hold	13F
SRS Investment Management, LLC	$293.5 Mil	3.1%	29	TRIM -11.8%	13F
FengHe Fund Management Pte. Ltd.	$21.6 Mil	3.0%	31	New	13F
Bender Robert & Associates	$12.4 Mil	3.0%	45	Hold	13F
Milestones Administradora de Recursos Ltda.	$10.4 Mil	2.7%	17	ADD +15.6%	13F
Nishkama Capital, LLC	$19.0 Mil	2.7%	39	New	13F
KADENSA CAPITAL Ltd	$18.9 Mil	2.6%	39	New	13F
Kinetic Partners Management, LP	$47.0 Mil	2.6%	49	ADD +133.8%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Evergreen Quality Fund GP, Ltd.	$107.2 Mil	2.5%	40	New	13F
Dream Peak Capital Ltd	$91.5 Mil	13.6%	6	New	13F
Tairen Capital Ltd	$32.6 Mil	3.5%	44	New	13F
CTC LLC	$32.2 Mil	2.6%	25	New	13F
FengHe Fund Management Pte. Ltd.	$21.6 Mil	3.0%	31	New	13F
Nishkama Capital, LLC	$19.0 Mil	2.7%	39	New	13F
ADAPT Investment Managers SA	$19.0 Mil	6.5%	34	New	13F
KADENSA CAPITAL Ltd	$18.9 Mil	2.6%	39	New	13F
Kinetic Partners Management, LP	$47.0 Mil	2.6%	49	ADD +133.8%	13F
Glenview Capital Management, LLC	$132.4 Mil	3.6%	41	ADD +65.1%	13F
Southpoint Capital Advisors LP	$183.1 Mil	3.8%	41	ADD +50.0%	13F
Columbus Hill Capital Management, L.P.	$36.5 Mil	6.2%	21	ADD +42.8%	13F
Ossiam	$808.3 Mil	14.2%	388	ADD +39.7%	13F
Eminence Capital, LP	$239.4 Mil	5.5%	33	ADD +21.5%	13F
Milestones Administradora de Recursos Ltda.	$10.4 Mil	2.7%	17	ADD +15.6%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	As Of	Filing
RK Capital Management, LLC/FL	$77.1 Mil	4.8%	20	Exited	Dec 31, 2025	13F
Appaloosa LP	$69.6 Mil	1.0%	38	Exited	Dec 31, 2025	13F
Long Walk Management LP	$28.8 Mil	6.4%	10	Exited	Dec 31, 2025	13F
Fund 1 Investments, LLC	$18.7 Mil	2.7%	49	Exited	Dec 31, 2025	13F
Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A.	$10.9 Mil	1.0%	48	Exited	Dec 31, 2025	13F
Benchstone Capital Management LP	$10.0 Mil	1.1%	43	Exited	Dec 31, 2025	13F
Proem Advisors LLC	$7.5 Mil	2.5%	28	Exited	Dec 31, 2025	13F
M & L Capital Management Ltd	$5.5 Mil	1.2%	25	Exited	Dec 31, 2025	13F
Paloma Partners Management Co	$5.0 Mil	1.7%	47	Exited	Dec 31, 2025	13F
Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group	$12.4 Mil	4.7%	28	TRIM -42.0%	Mar 31, 2026	13F
Boothe Investment Group, Inc.	$6.2 Mil	2.0%	40	TRIM -39.5%	Mar 31, 2026	13F
BSN CAPITAL PARTNERS Ltd	$51.8 Mil	2.4%	41	TRIM -33.5%	Mar 31, 2026	13F
Soma Equity Partners LP	$79.1 Mil	5.8%	20	TRIM -25.3%	Mar 31, 2026	13F
SRS Investment Management, LLC	$293.5 Mil	3.1%	29	TRIM -11.8%	Mar 31, 2026	13F
Ratan Capital Management LP	$5.4 Mil	2.0%	37	TRIM -11.0%	Mar 31, 2026	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Ossiam	$808.3 Mil	14.2%	388	ADD +39.7%	13F
SRS Investment Management, LLC	$293.5 Mil	3.1%	29	TRIM -11.8%	13F
Eminence Capital, LP	$239.4 Mil	5.5%	33	ADD +21.5%	13F
Southpoint Capital Advisors LP	$183.1 Mil	3.8%	41	ADD +50.0%	13F
Glenview Capital Management, LLC	$132.4 Mil	3.6%	41	ADD +65.1%	13F
Evergreen Quality Fund GP, Ltd.	$107.2 Mil	2.5%	40	New	13F
Dream Peak Capital Ltd	$91.5 Mil	13.6%	6	New	13F
Soma Equity Partners LP	$79.1 Mil	5.8%	20	TRIM -25.3%	13F
BSN CAPITAL PARTNERS Ltd	$51.8 Mil	2.4%	41	TRIM -33.5%	13F
Kinetic Partners Management, LP	$47.0 Mil	2.6%	49	ADD +133.8%	13F
Light Street Capital Management, LLC	$44.6 Mil	9.0%	23	Hold	13F
Columbus Hill Capital Management, L.P.	$36.5 Mil	6.2%	21	ADD +42.8%	13F
Estuary Capital Management LP	$34.5 Mil	5.8%	22	Hold	13F
Tairen Capital Ltd	$32.6 Mil	3.5%	44	New	13F
CTC LLC	$32.2 Mil	2.6%	25	New	13F
Generali Powszechne Towarzystwo Emerytalne	$28.5 Mil	5.0%	28	Hold	13F
Once Capital Management, LLC	$25.5 Mil	6.8%	22	Hold	13F
FengHe Fund Management Pte. Ltd.	$21.6 Mil	3.0%	31	New	13F
Nishkama Capital, LLC	$19.0 Mil	2.7%	39	New	13F
ADAPT Investment Managers SA	$19.0 Mil	6.5%	34	New	13F
KADENSA CAPITAL Ltd	$18.9 Mil	2.6%	39	New	13F
Ithaka Group LLC	$15.9 Mil	3.3%	38	Hold	13F
Nepsis Inc.	$15.7 Mil	5.3%	29	Hold	13F
Firetrail Investments PTY LTD	$15.5 Mil	5.3%	28	Hold	13F
Melqart Asset Management (UK) Ltd	$14.2 Mil	1.4%	41	Hold	13F

AMD Trade Sentinel

Stock Conviction

High Conviction

CONVICTION RATIONALE

Conviction is high as AMD executes a successful pivot into a primary supplier for the AI infrastructure buildout. Its Data Center segment is accelerating, now 58% of revenue with 107% YoY growth. Multi-gigawatt commitments from top AI labs provide strong visibility, while the company maintains a pristine execution record on its product roadmap.

STOCK ARCHETYPE

Product Cycle / Cyclical Growth

Revenue = (Unit Shipments per Segment) x (Average Selling Price per Segment) Mix shift to the high-growth, high-margin Data Center segment and ASP uplift from new, more powerful product generations.

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

Can AMD's Data Center become a second, durable engine for the AI buildout?

Evidence suggests yes. The Data Center segment is accelerating, capturing share in server CPUs and securing large-scale AI accelerator deployments.

Mechanism: The business mix is shifting to the Data Center, which grew 107% YoY to $6.7 billion and now represents 58% of total revenue, driving both top-line growth and margin expansion.

Supporting Evidence:

Data Center revenue grew 107% year-over-year in Q2 2026.
The Data Center segment now represents 58% of total revenue.
Announced multi-generation, gigawatt scale deployments with OpenAI, Meta, and Anthropic.
Server CPU sales to both cloud and enterprise customers grew over 70% YoY.
The company is on track for over $18 billion in new embedded design wins for 2026.

PRIMARY RISK

Insurmountable Competition and Execution Risk

NVIDIA's dominant AI software ecosystem and scale, combined with the risk of delays in AMD's complex Helios platform ramp, could cap market share gains and leave AMD a distant second.

Mechanism: Any announced delay or supply constraint related to the Helios platform ramp, which is scheduled to begin this quarter.

Supporting Evidence:

NVIDIA is the discrete GPU market share leader with an entrenched software ecosystem.
NVIDIA's trailing-twelve-month revenue is 6.1 times AMD's revenue.
A partnership between NVIDIA and Intel was announced in September 2025.
The industry faces severe supply constraints in wafers, memory, and substrates.
Management is planning for a softer PC market in the second half of 2026.

Key KPI Watchlist

KPI	Status	Rationale
Data Center Segment Revenue Growth	107% year-over-year growth in Q2 2026 - Accelerating	The Data Center segment's year-over-year growth has been dramatically accelerating over the past three quarters, from 39% to 57%, and most recently to 107%. Management attributes this to strong demand for both EPYC server processors and Instinct AI accelerators. The segment now represents 58% of total company revenue, up from 42% a year ago, highlighting its central role in the company's growth story.
Server CPU Revenue Growth	Over 70% year-over-year growth in Q2 2026 - Accelerating	Server CPU revenue growth is also accelerating, with management noting the fifth consecutive quarter of record revenue. The growth is broad-based, with both cloud and enterprise sales growing over 70% year-over-year. This is driven by customer adoption of both the latest 5th-gen 'Turin' and prior 4th-gen 'a recently discussed product' EPYC families.
Embedded Segment Design Wins	On track for over $18 billion (Full Year 2026 forecast as of Q2 2026 call)	Market rewards Achieving a 'record year' is the stated goal.. Indicates future revenue potential and market share gains in the Embedded segment, as design wins translate into product sales over a multi-year period.

Core Investment Debate

Proven CPU Share Gains vs. High-Stakes AI Accelerator Ramp

BULL VIEW

Proven success taking server CPU share from Intel provides a strong foundation of growth and cash flow while the company ramps its new AI accelerators into a supply-starved market.

CORE TENSION

Can accelerating server CPU growth (over 70% YoY) offset the execution risk of the new Helios platform ramp, which the market reacted to negatively?

PREVAILING SENTIMENT

BULLISH

Current evidence favors the bull view. Management has a strong execution record and reaffirmed that initial Helios shipments are on track to begin this quarter.

BEAR VIEW

The AI accelerator market is the real prize, and any execution slip or supply issue with the new Helios platform will be severely punished, ceding the massive opportunity to NVIDIA.

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch
9/2/2026	Broadcom Earnings Report Watch: Peer Broadcom (AVGO) is scheduled to report earnings.
this quarter	Helios Shipments Commence Watch: Initial shipments of the Helios rack-scale AI platform are set to begin.
10/21/2026	Peer Competitive Data Watch: Intel's server CPU results and outlook; NVIDIA's data center revenue growth and commentary on AI accelerator supply/demand.
11/2/2026	Gaming Segment Contraction Watch: The magnitude of the gaming decline and any change to the outlook for the semi-custom business.
11/2/2026	PC Market Softness Watch: Commentary on PC channel inventory, end-demand, and the impact of component costs on the Client segment.
11/17/2026	NVIDIA Earnings Report Watch: Peer NVIDIA (NVDA) is scheduled to report earnings.
the second half of 2026	OpenAI GPU Deployment Begins Watch: The first gigawatt of MI450 series accelerators for OpenAI is scheduled to start coming online.
Q4	Vultr Cloud GPU Availability Watch: Cloud provider Vultr will begin offering access to AMD Instinct MI450 series GPUs.
the fourth quarter	Helios Production Ramp Watch: The Helios platform is expected to ramp through the fourth quarter.
later this year	EPYC Venice Cloud Deployments Watch: Deployments of the 6th Gen EPYC 'Venice' CPU by leading cloud providers are planned to begin.

Key Events in Last 6 Months

Date	Event	Stock Impact
2026-08-04	Record Q2 Results Reported Details: On August 4, 2026, AMD reported record Q2 revenue of $11.5 billion, a 50% year-over-year increase, and raised Q3 revenue guidance by 16.1%.	-0.5% $484.64 -> $482.05
2026-07-23	Advancing AI Partner Showcase Details: In late July 2026, multiple partners including Schneider Electric, Supermicro, and Vultr announced support and new products for AMD's AI platforms, including the Helios rack-scale solution.	-5.5% $552.33 -> $521.95
2026-05-21	Taiwan AI Ecosystem Investment Details: The company announced over $10 billion in investments across the Taiwan ecosystem on May 21, 2026, to accelerate AI infrastructure and scale advanced packaging capabilities.	+4.5% $447.58 -> $467.51
2026-05-21	Venice CPU Production Ramp Details: On May 21, 2026, the company announced the production ramp of its 6th Gen EPYC CPUs, codenamed "Venice," on TSMC's 2nm process technology.	+4.5% $447.58 -> $467.51
2026-05-05	Strong Q1 Earnings Reaction Details: The stock had a 23.0% positive two-day reaction around the May 5, 2026 earnings call, driven by an outstanding start to the year and accelerating AI demand.	+23.4% $341.54 -> $421.39
2026-02-03	Stock Slides Post-Earnings Details: The stock experienced a -19.0% two-day reaction around the February 3, 2026 earnings call, as Wall Street adjusted AI revenue expectations.	-18.7% $246.27 -> $200.19

Risk Management

Position Sizing

2% - 4%

REDUCED POSITION

Sizing is volatility-based: AMD trades at roughly 68% annualized options-implied volatility versus about 13% for the S&P 500 (5.2x the market), around the 80th percentile of its own trailing year. A 2% - 4% position keeps a single-name swing of that size within a diversified portfolio's risk budget.

Diversification Alternatives

NVDA - NVIDIA Corporation

Dominant AI Leader

NVIDIA offers dominant, pure-play exposure to the AI accelerator market with a deeply entrenched proprietary software ecosystem (CUDA) and significantly larger scale.

Core Thesis: Investing in the established market leader that has become the industry standard for AI training and inference.

INTC - Intel Corporation

Incumbent Turnaround

Intel is the historical incumbent in CPUs with greater scale and direct control over its manufacturing. It represents a turnaround story with potential for aggressive pricing.

Core Thesis: A value-oriented investment in an incumbent fighting to regain technology leadership and defend its market share.

How Is The Market Pricing AMD?

AMD is a primary arms dealer for the AI revolution, with a dual-engine growth story in both essential server CPUs (EPYC) and high-demand AI accelerators (Instinct).

AMD has successfully transitioned into a data center-first company, capitalizing on the explosive demand for AI compute. Its EPYC server CPUs are gaining significant share in a rapidly expanding market, while its Instinct AI accelerators are being adopted by the world's largest AI labs and cloud providers for massive, multi-gigawatt deployments. This positions AMD to capture a significant share of a data center market opportunity that management now sees approaching $1.4 trillion by 2030.

What will confirm the thesis

Announcements of additional multi-gigawatt scale deployments for Helios/Instinct GPUs with major AI labs or cloud providers. Evidence of continued server CPU market share gains against competitors. On-time launch and rapid customer adoption of next-generation products like the Venice CPU and a new MI GPU.

Sells embedded CPUs, APUs, FPGAs, and adaptive SoCs to a wide range of markets including aerospace and defense, automotive, industrial, healthcare, and communications infrastructure.

Who Pays & How

Manufacturers in various industrial and high-tech sectors pay for high-performance, scalable, and often low-power processors for specialized applications that can require long lifecycles and operate in harsh conditions.

Unit sales of embedded processors and adaptive computing devices, sold directly or through distributors.

Competition

Intel (Altera), Lattice Semiconductor, Broadcom, Marvell, and NVIDIA

A wide range of established competitors offer Application-Specific Standard Products (ASSPs) and competing FPGAs.

A broad portfolio combining high-performance x86 CPUs with adaptive SoCs and FPGAs from the Xilinx acquisition, enabling customized solutions for diverse end markets.

AMD Evolution: Price Return by Era

2021-2023 · Pre-2023: Diversified Challenger

+60%

AMD's revenue was more balanced across its segments. The Client and Gaming segments were significant contributors, with Gaming revenue peaking in 2022-2023. The Data Center segment was growing steadily but had not yet become the dominant part of the business.

· 2024-Present: AI-Driven Data Center Inflection

Beginning in 2024, the company experienced a massive acceleration in its Data Center business, driven by the AI boom. This segment's revenue more than doubled year-over-year, becoming the majority of company revenue and its primary growth and profit engine, fueled by large-scale deployments of Instinct AI accelerators and surging demand for EPYC server CPUs.

Market Appears To Be Skeptical Of Core Thesis

Price structure is neutral. The price is in a holding pattern with no clear directional commitment from the moving average stack. Relative to SPY: Strong 63D outperformance but 'relative strength' momentum is fading, indicating that money rotation may be maturing. Volume and momentum are clearly negative. OBV (on-balance volume) and volume character point to institutional exit. Earnings history is mildly cautionary. The reaction or drift are negative, and the market is beginning to push back on the thesis.

① Structure

Structural pillar score (-4 to +4). Driven by trend regime, SMA cross events, proximity to 52W high, and relative strength vs SPY.

② Volume / Momentum

-2

Volume/Momentum pillar score (-4 to +4). Driven by institutional footprint score, OBV divergence, and momentum character.

③ Catalyst

-1

Catalyst pillar score (-4 to +4). Driven by earnings day reaction, 20D post-earnings drift, and post-earnings volume character.

Combined Score

-3 / 12

1 Price Structure & Trend Potential Bottoming · - ▾

2 Momentum Pausing ▾

3 Relative Strength vs. SPY Facing Relative Strength ▾

4 Institutional Footprint & Volume Mild Distribution ▾

5 Volatility Normal ▾

6 Key Price Levels Range · Vol Flat ▾

7 Earnings Reaction History Inconsistent ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	-2
③ Catalyst	-1

ℹ Bull Pillars: 0 · Bear Pillars: 2 · Combined Score: -3 → Market Appears To Be Skeptical Of Core Thesis

Advanced Micro Devices — Investor Video Playlist

Investor / Analyst

Advanced Micro Devices Q2 FY26 Earnings Call | $AMD | 🔴 WATCH LIVE

Benzinga · 2026-08-04

Products & Services

AMD + Uniphore: From Pilot to Business Impact

AMD · 2026-07-31

Leadership

Agentic AI and the Future of Software Development: S3 E4

AMD · 2026-07-29

Investor / Analyst

Advancing AI 2026 Replay | Build What's Next with @AMD

AMD AI PCs, Ready When You Are

AMD · 2026-07-01

Products & Services

Introducing AMD EPYC™ 8005 Server CPUs

AMD · 2026-06-22

Products & Services

AMD Ryzen™ 9 9950X3D2 Dual Edition Processor Announcement

AMD · 2026-03-26

Products & Services

Introducing the AMD Instinct™ MI350 Series GPUs: Ultimate AI & HPC Acceleration

AMD · 2025-10-20

Industry Resources

Information Technology Resources

TechCrunch

Wired

CIO

MIT Technology Review

Gartner Insights

Ars Technica

Semiconductors Resources

EE Times

Semiconductor Engineering

Semiconductor Digest

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Core Cache Last Updated: 8/7/2026

Advanced Micro Devices (AMD)

Market Price (8/8/2026): $483.0 | Market Cap: $788.3 BilInvestor Relations ↗Sector: Information Technology | Industry: Semiconductors

Advanced Micro Devices (AMD)

Market Price (8/8/2026): $483.0Market Cap: $788.3 BilSector: Information TechnologyIndustry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

AMD in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Advanced Micro Devices (AMD)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Advanced Micro Devices (AMD)

INDUSTRY: Semiconductors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AMD: 24.4% | 19.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AMD: 24.4% | 121.6x)

Higher Rev Chg LTM (Value for AMD: 39.5%)

Higher Rev Chg 3Y Avg (Value for AMD: 24.4%)

Higher Op Mgn LTM (Value for AMD: 15.7%)

Higher CFO/Rev LTM (Value for AMD: 24.4%)

Higher FCF/Rev LTM (Value for AMD: 20.3%)

Higher Total Yield (Value for AMD: 0.8%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for AMD: 24.4% | 19.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AMD: 24.4% | 121.6x)

Higher Rev Chg LTM (Value for AMD: 39.5%)

Higher Rev Chg 3Y Avg (Value for AMD: 24.4%)

Higher Op Mgn LTM (Value for AMD: 15.7%)

Higher CFO/Rev LTM (Value for AMD: 24.4%)

Higher FCF/Rev LTM (Value for AMD: 20.3%)

Higher Total Yield (Value for AMD: 0.8%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AMD: 24.4% | 19.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AMD: 24.4% | 121.6x)

Higher Rev Chg LTM (Value for AMD: 39.5%)

Higher Rev Chg 3Y Avg (Value for AMD: 24.4%)

Higher Op Mgn LTM (Value for AMD: 15.7%)

Higher CFO/Rev LTM (Value for AMD: 24.4%)

Higher FCF/Rev LTM (Value for AMD: 20.3%)

Higher Total Yield (Value for AMD: 0.8%)

Best Bets in Information Technology

P/EBIT (Value for AMD: 102.6x)

P/E (Value for AMD: 122.6x)

Rev Chg 3Y Avg (Value for AMD: 24.4%)

Rev Chg LTM (Value for AMD: 39.5%)

Rev Chg Q (Value for AMD: 50.1%)

FCF/Rev 3Y Avg (Value for AMD: 13.3%)

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Market Price (8/8/2026): $483.0 | Market Cap: $788.3 BilInvestor Relations Sector: Information Technology | Industry: Semiconductors

Market Price (8/8/2026): $483.0
Market Cap: $788.3 Bil
Sector: Information Technology
Industry: Semiconductors