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Advanced Micro Devices, Inc.
S&P 500 Nasdaq 100
$830.3B
Market Cap
80.2
P/E
0.86
PEG
6.6%
ROCE
7.1%
ROE
0.05
D/E
10.7%
OPM
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🌏 Global Investor Returns
Currency-adjusted total returns for AMD including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
Shareholding
About

Advanced Micro Devices, Inc. operates as a semiconductor company internationally.

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📈 Growth Pattern
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⭐ Superinvestors Holding AMD
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Manager Shares Value % of Fund Period
Cathie Wood ARK Investment Management 2.71M $551.9M 4.29% Mar 2026
Steve Cohen Point72 Asset Management 1.41M $287.8M 0.37% Mar 2026
David Tepper Appaloosa LP 221.4K $45.0M 0.76% Mar 2026
Jim Simons Renaissance Technologies LLC 216.9K $42.8M 0.07% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q1 2026
Revenue
$10.3B
+38% YoY
Operating Income
$2.5B
+43% YoY
Operating Margin
25%
+1pp YoY
Net Income
$2.3B
+45% YoY
What Went Right
  • Record data center revenue of $5.8B, up 57% YoY, driven by EPYC and Instinct
  • Record free cash flow of $2.6B, tripling YoY and representing 25% of revenue
  • Raised server CPU TAM forecast to over $120B by 2030, up from $60B at Analyst Day
What to Watch
  • Data center AI revenue down modestly sequentially due to lower China revenue
  • Second-half gaming revenue expected to decline more than 20% due to memory/component cost inflation
  • OpEx rose 42% YoY, with R&D and go-to-market investments escalating ahead of revenue deleverage
Management Guidance
  • Q2 revenue guidance of $11.2B ± $300M, up 46% YoY
  • Q2 non-GAAP gross margin guided to 56%; OpEx to be approximately $3.3B
  • Server CPU revenue to grow greater than 70% YoY in Q2; data center AI revenue to exceed tens of billions in 2027
Investor Lens
Thesis is stronger after this call. AMD delivered a clear beat-and-raise quarter, with record data center revenue, a tripling of free cash flow, and a dramatic upward revision to server CPU TAM—doubling from $60B to over $120B by 2030, driven by agentic AI demand. The Instinct GPU pipeline is deepening, with expanded Meta and OpenAI partnerships and multi-gigawatt customer forecasts exceeding initial plans. However, risks remain from memory inflation impacting consumer segments and OpEx growth outpacing near-term revenue, but the structural AI opportunity now dwarfs any cyclical headwinds.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG AMD crushes Q1 with $10.3B, raises FY outlook on AI-fueled CPU boom
Revenue
Revenue of $10.3B exceeded the high end of guidance, up 38% YoY. Data center segment led with $5.8B, up 57% YoY, while Client & Gaming grew 23% to $3.6B and Embedded returned to growth at $873M (+6% YoY).
Profitability
Non-GAAP net income was $2.3B, up 45% YoY, with diluted EPS of $1.37—also up 45% YoY. GAAP net income rose 95% to $1.4B.
Margins
Non-GAAP gross margin improved 170bps YoY to 55%, driven by favorable mix toward data center. Non-GAAP operating margin expanded to 25% from 24% a year ago, despite a 42% increase in OpEx.
Balance Sheet
Free cash flow tripled to a record $2.6B. The company ended the quarter with $12.3B in cash, equivalents, and short-term investments. Inventory remained flat at $8B.
Key Risks
Management flagged memory cost inflation pressuring second-half consumer PC and gaming demand. Data center AI revenue faced a sequential dip due to lower China revenue in Q1. OpEx is growing faster than revenue near-term as AMD invests heavily in AI R&D and go-to-market.
Outlook
Q2 fiscal 2026 revenue is expected to be approximately $11.2B, up 46% YoY, with non-GAAP gross margin of 56%. AMD expects server CPU revenue to grow more than 70% YoY in Q2 and continues to see robust growth through 2027, driven by agentic AI demand.
Generated by AI · Q1 2026 results · Not investment advice
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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