Track market-moving stories before they get noisy

AMD (AMD +1.74%) struggled in the early stages of the AI arms race. Its technology was lacking and behind its competition.

While I won't claim that AMD has caught up on the technological front, its products are far more competitive and serve as viable alternatives to other AI computing units, such as those from Nvidia.

However, I'm still not planning on buying AMD stock anytime soon. Why? It's just too expensive. The reality is that a ton of growth has already been priced into the stock, and it's just too expensive to consider investing in right now.

Image source: The Motley Fool.

AMD is expensive by practically any valuation measure The most common way to value a stock is to use the price-to-earnings (P/E) ratio. This utilizes earnings over the past 12 months to value the stock, and for a big tech company like AMD involved in the AI arms race, you'd probably expect it to be valued between 25 and 35 times earnings. But that's far from the case.

AMD PE Ratio data by YCharts

At 130 times earnings, AMD is a very expensive stock. However, one may argue that its profit margins are improving rapidly compared with a few quarters ago. I'll buy this argument, but if I value it based on forward earnings, which should include more optimized quarters, it's still very expensive.

AMD PE Ratio (Forward) data by YCharts

Consider that 67 times forward earnings is a very pricey tag, and it's far higher than AMD has previously been valued.

As a final argument, AMD bulls may point to how strong a year AMD expects in 2027. I don't disagree that it will be a great year for AMD as a company, but the reality is that all of 2027's growth is already priced into AMD's stock.

AMD PE Ratio (Forward 1y) data by YCharts

At 32 times next year's earnings, AMD basically has a year and a half of growth priced into its stock right now. So, if AMD hits all analyst expectations and its stock stays flat until next year's results are finalized, AMD will trade at a reasonable 32 times trailing earnings.

AMD Advanced Micro Devices$516.79+$8.86 (+1.74%)

NASDAQ · As of 4:00 PM ET 10/23/26

That's just too much growth to pay up for right now, especially considering that its primary competitor, Nvidia, trades at 27 times trailing earnings. I think AMD's stock is overextending and way out in front of its skis, and either two things will happen over the next year.

First, it could experience a sizable sell-off. Second, it could underperform as it grows into its valuation. Neither of those two options is attractive, so I'm staying away from AMD stock.

Atlatl Advisers LLC trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 31.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,293 shares of the semiconductor manufacturer’s stock after selling 4,185 shares during the period. Advanced Micro Devices makes up 1.4% of Atlatl Advisers LLC’s investment portfolio, making the stock its 19th largest holding. Atlatl Advisers LLC’s holdings in Advanced Micro Devices were worth $5,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. acquired a new position in Advanced Micro Devices in the third quarter valued at $29,000. JNBA Financial Advisors increased its position in shares of Advanced Micro Devices by 142.9% during the second quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Downshift Financial LLC increased its position in shares of Advanced Micro Devices by 850.0% during the third quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 51 shares in the last quarter. Sawyer & Company Inc purchased a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at about $37,000. Finally, Bullseye Investment Management LLC purchased a new stake in shares of Advanced Micro Devices in the 2nd quarter valued at about $44,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Up 1.7% Advanced Micro Devices stock opened at $516.79 on Friday. The stock has a 50 day moving average of $541.54 and a two-hundred day moving average of $483.45. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month high of $658.52. The stock has a market capitalization of $843.65 billion, a price-to-earnings ratio of 132.85, a PEG ratio of 5.21 and a beta of 2.45. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. The business had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.31 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current year. Analyst Upgrades and Downgrades A number of analysts recently issued reports on the company. KeyCorp set a $650.00 target price on Advanced Micro Devices in a research report on Wednesday, August 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $650.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Bank of America boosted their price objective on Advanced Micro Devices from $620.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, September 25th. Benchmark increased their price objective on Advanced Micro Devices from $485.00 to $685.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird set a $1,250.00 target price on shares of Advanced Micro Devices in a research report on Friday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $606.76.

Read Our Latest Stock Analysis on Advanced Micro Devices

Insider Buying and Selling In related news, EVP Mark D. Papermaster sold 28,811 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the completion of the transaction, the executive vice president directly owned 1,261,461 shares of the company’s stock, valued at $595,245,602.07. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jean X. Hu sold 15,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the completion of the transaction, the executive vice president owned 160,979 shares of the company’s stock, valued at $76,316,924.32. This represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 231,100 shares of company stock worth $114,867,400 in the last ninety days. Insiders own 0.50% of the company’s stock.

Key Headlines Impacting Advanced Micro Devices Here are the key news stories impacting Advanced Micro Devices this week:

Positive Sentiment: Analyst support is helping sentiment. AMD received an analyst upgrade, while Erste Group raised its FY2027 earnings estimate to $15.05 per share from $14.80. The company’s long-term earnings outlook is being supported by expectations for continued AI accelerator demand. AMD Stock Jumps Following Analyst Upgrade Positive Sentiment: AI growth remains the core bullish argument. Articles point to AMD’s hyperscaler contracts, data-center expansion and expected product cycles as potential drivers of substantial future revenue growth. AMD recently reported 50.1% year-over-year revenue growth, and analysts continue to debate whether its AI opportunity is being underestimated. AMD’s Potential May Be Underestimated Neutral Sentiment: Today’s strength follows a broad technology rebound. AMD and Intel recovered after a sharp semiconductor sell-off, while AMD also contributed to gains in the Invesco QQQ Trust. This suggests some of the buying reflects sector rotation and short-term dip buying rather than a change in AMD’s fundamentals. Why AMD and Intel Stocks Are Gaining Negative Sentiment: Valuation and execution risks remain significant. AMD has already risen sharply this year, and its high earnings multiple leaves little room for disappointment. Investors are focused on whether upcoming earnings and new AI products can validate the expectations embedded in the stock. AMD Stock Price Prediction Negative Sentiment: Competitive and macroeconomic pressures could limit upside. Nvidia is expanding into CPU systems traditionally dominated by AMD and Intel, while higher oil prices, interest rates and questions about AI infrastructure spending are weighing on the broader semiconductor trade. Nvidia Enters the CPU Market (Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

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AMD (AMD +1.74%) has been a tremendous stock to own in 2026. It has risen about 150% this year, ranking in the top 10 for best-performing S&P 500 (^GSPC -0.52%) stocks. That's an admirable performance, and it has AMD investors believing that it's truly taking ground from primary competitor Nvidia (NVDA -0.59%) in the all-important data center market.

However, I think some of this performance isn't earned, and the stock could be ripe for a pullback. There are several factors that point to this potentially coming, and getting out of the stock before AMD's Nov. 3 earnings report could save investors from some heartache.

Image source: The Motley Fool.

AMD's stock is very expensive At face value, AMD's stock is not cheap, regardless of which valuation measure you use.

AMD PE Ratio (Forward) data by YCharts. PE = price-to-earnings.

At nearly 140 times trailing earnings, it's very pricey for the results it has delivered. Even at 70 times this year's earnings, it's still expensive. Analysts expect a huge year next year, with it trading at 34 times next year's earnings, but that's still just a very expensive stock, especially when compared to Nvidia.

Nvidia is AMD's nemesis in the data center space, and these two have competed against each other for a long time. Nvidia has nearly always been the winner, but from an investment standpoint, that has shifted in 2026. However, I don't think that has really been earned.

AMD's price tag has increased dramatically throughout the year, as evidenced by the chart above. While AMD trades for 34 times next year's earnings, Nvidia trades for 27 times trailing earnings. That's right, Nvidia is cheaper right now than AMD is projected to be at the end of next year if its stock price stays flat.

That's a huge pricing mismatch for companies in the same industry, and I think all of that could come to a head during AMD's third-quarter results.

AMD needs to continue accelerating its growth to justify its price During AMD's second-quarter results, it reported accelerating data center revenue, rising 107% year over year to $6.7 billion. However, overall company revenue accelerated at just a 50% pace to $11.5 billion. That's because AMD's non-data center business units didn't have great quarters, and they are a drag on AMD's overall financial picture.

Contrast that with Nvidia, which delivered 117% data center growth to $89 billion and overall growth of 106% to $96.2 billion in Q2, and it's pretty clear that AMD is still behind Nvidia. There's nothing in those figures that points to AMD being worth a massive premium over Nvidia, and as soon as the market realizes it, one of two things will happen.

AMD Advanced Micro Devices$516.79+$8.86 (+1.74%)

NASDAQ · As of 4:00 PM ET 10/23/26

First, AMD stock could come under heavy selling pressure. As many funds look to take gains from 2026 returns and roll them into new 2027 ideas, AMD could be the first one on the chopping block due to it being a bit pricey. This could ignite a sell-off that returns AMD's valuation to a far more reasonable level. Depending on what is said in its Nov. 3 earnings report, this event could be the kick-start, unless it reports a major increase in data center revenue growth.

Second, Nvidia's stock could rotate back to being the darling of the stock market and see its price rise to a more reasonable valuation level. Regardless, I think it's pretty clear that AMD could have a period of underperformance arriving while Nvidia outperforms.

Taking advantage of AMD's high price tag and Nvidia's low price tag makes a lot of investment sense. Investors should consider rotating out of AMD and into Nvidia, as all indicators point toward that being a major trend during 2027.

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Stock to Watch: Advanced Micro Devices (AMD - Free Report) Advanced Micro Devices has strengthened its position in the semiconductor market on the back of its strong product portfolio. Santa Clara, CA-based AMD generated revenues of $34.64 billion in 2025. The company reports operations under three segments – Data Center, Client and Gaming, and Embedded – which accounted for 48%, 42%, and 10% of revenues, respectively.

AMD is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. AMD has a Growth Style Score of A, forecasting year-over-year earnings growth of 81.1% for the current fiscal year.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.00 to $7.55 per share. AMD boasts an average earnings surprise of +6.7%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, AMD should be on investors' short list.

AMD has booked gigawatts of AI accelerator commitments and posted a 50% revenue jump, yet the stock shed nearly 19% in a single month. Whether the next earnings report confirms a historic ramp or exposes a valuation built on promises…

AMD (NASDAQ:AMD | AMD Price Prediction) trades at $507.93. The business has a high fundamental floor, but the stock is prone to sharp swings through the end of 2026. Shares fell 8.1% in a single session as oil prices rose and questions about AI spending returned, so the current price puts investor conviction to a real test.

AMD sells server CPUs, AI accelerators, PC chips and console silicon. It competes with NVIDIA (NASDAQ:NVDA) in AI GPUs and with Intel (NASDAQ:INTC) in processors. Data Center now generates 58% of revenue. The stock is up 137.17% year to date but has dropped 18.57% over the past month.

Gigawatt Deals and Doubling Data Center Sales Build the Floor Second-quarter revenue rose 50.1% to $11.54 billion, ahead of the $11.31 billion consensus. Non-GAAP EPS of $1.66 beat the $1.61 estimate. Data Center revenue grew 107% to $6.72 billion, and non-GAAP operating margin expanded to 27% from 12%. Management guided third-quarter revenue to about $13 billion, which would be roughly 41% growth.

Much of the demand is already signed. OpenAI has committed to 6 GW, Meta Platforms (NASDAQ:META) to up to 6 GW, and Anthropic to up to 2 GW of MI450 GPUs. The CEO said Helios demand is “tracking ahead of our initial forecast,” and management expects Data Center revenue to more than double in 2027. The consensus 2027 EPS estimate has grown to $15.7553 from $13.4647 90 days ago. That puts the stock at about 32x next year’s earnings.

A 141x Trailing Multiple Leaves No Room for a Capex Pullback AMD trades at 141x trailing earnings and 21.84x sales, with a beta of 2.454. That price assumes hyperscalers keep spending at full speed. Meanwhile, Meta just reported its first negative free cash flow since 2012, and Brent crude exceeded $112. Higher oil raises the risk of higher borrowing costs for an AI build-out that increasingly runs on debt (the power, cooling, and networking suppliers financing that same build-out are the focus of a free report on seven AI infrastructure names beyond the chipmakers).

Execution risk remains a concern as well. Helios is a complex ramp, and yields are still improving. Gaming fell 31%, and management expects another significant double-digit decline. Export controls already cost AMD about $800 million in MI308 charges. Beating estimates has not protected the stock either: shares fell 17.31% on the day of a 15.98% earnings surprise and 7.04% after the latest beat.

Helios Shipments Will Decide Which Camp Is Right Record margins and grown estimates support the bull case. Still, 2027 revenue estimates range from $61.26 billion to $118.11 billion. That spread is wide for a stock at this multiple. Three things should settle it over the next two quarters: confirmation that Helios has shipped, a fourth-quarter outlook compared with the $16.11 billion revenue consensus, and the broader customer base management expects by early 2027.

Analysts See 25% Upside Despite a Sharp Monthly Slide The consensus price target of $637.61 implies 25.5% upside. Price targets are one input and can be wrong. Ratings from 56 analysts break down as follows:

Strong Buy: 5 Buy: 40 Hold: 11 Sell or Strong Sell: 0 AMD is up 137.17% year to date, compared with 12.05% for the S&P 500. Over the past month, AMD lost 18.57% while the index slid 1.21%. The forward P/E is 40. The stock sits beneath its 50-day average of $541.10 and well above its 200-day average of $399.08.

Helios Revenue Is the Key Test for AMD Through Year-End AMD trades at $507.93.

The earnings base is solid. Revenue is compounding, margins are expanded, and signed deployments run into 2027.

A stronger bull case would require a third-quarter report at or above the $13 billion guide, Helios revenue that shows up in the results, and a fourth-quarter outlook near or above consensus. A retreat to the 200-day average with guidance unchanged would also lower the valuation. The bear case would strengthen if hyperscalers cut capex, Helios yields delay the ramp, or new export rules hit Instinct.

The analyst target implies room for a rebound, but the stock fell 9.66% in one week on macro news. At this point, proof that Helios is scaling matters more than momentum.

AMD’s fundamentals set a high floor, but at 141x trailing earnings the path to year-end will be volatile, and Helios results are the key signal to monitor.

Contact [email protected] for any questions or corrections.

AMF Tjanstepension AB decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) by 14.5% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,113 shares of the semiconductor manufacturer's stock after selling 3,574 shares during the quarter.

Advanced Micro Devices (AMD -8.10%) stock fell 8.1% on Thursday, Oct. 22, as oil prices jumped amid renewed conflict in the Middle East.

The S&P 500 and the Nasdaq Composite lost 1.2% and 2.6%, respectively.

AMD Advanced Micro Devices$507.93-$44.79 (-8.10%)

NASDAQ · As of 4:00 PM ET 10/22/26

Oil adds pressure to an expensive build-outRenewed attacks in Saudi Arabia from Houthi rebels raised fears of further disruptions to oil supplies.

Image source: Getty Images.

Brent Crude, an international benchmark for oil prices, topped $112 a barrel on Thursday, the highest level since May of this year. High energy prices threaten to drive already elevated inflation even higher, and that makes the outlook for borrowing costs more complicated.

The AI infrastructure build-out is incredibly expensive and is more and more fueled by debt as the big tech sees its cash flows diminish. Meta Platforms' Q3 report showed aggressive capital spending continuing, leading to a negative free cash flow (FCF) for the first time since 2012. So while there is no sign of spending slowing down today, the concern is whether the current pace is sustainable if borrowing costs continue to rise and how that will impact AMD's bottom line.

There was another factor at play from Meta's earnings: the company approved a new non-voting share class explicitly to be used to raise capital without diluting CEO Mark Zuckerberg's voting power.

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Meta Platforms. The Motley Fool has a disclosure policy.

Advanced Micro Devices (AMD -7.83%) has delivered strong returns this year, but unless you've held over the past 10 months, you haven't gained anything. The bigger risk lies in what's ahead for AMD, as that will determine future returns.

AMD has to continue proving itself to the market quarter after quarter, as there is a lot of skepticism about its positioning compared to other industry giants. By 2028, I think this will be clear, but where will the stock be? I think it will be in the exact same spot. Here's why.

Image source: The Motley Fool.

AMD's growth has already been pulled ahead For most of AMD's life, it has always been viewed as an alternative product line, rather than the industry standard. This has hurt it on more than one occasion, and the AI build-out is no different. Nvidia is seen as the industry standard, with AMD as a solid alternative. But it's not the first choice.

AMD Advanced Micro Devices$509.46-$43.26 (-7.83%)

NASDAQ · As of 1:27 PM ET 10/22/26

However, AMD's products are starting to be used in more applications, and this has caused its data center revenue growth rate to spike. In Q2, its data center revenue rose 107% year over year, so clearly it's starting to become a more popular choice. AMD will need to continue that performance for the foreseeable future, as there is a ton of growth already priced into the stock.

Currently, AMD's shares trade at a very expensive 136 times trailing earnings. To make matters worse, it was over 160 just a few days ago.

AMD PE Ratio data by YCharts

That's a very optimistic price tag, and it indicates there is a lot of expected growth that has been pulled forward. If you value the stock based on 2027 earnings, this is confirmed.

AMD PE Ratio (Forward 1y) data by YCharts

AMD's stock trades for 33.5 times next year's earnings, not this year's. That's a huge premium, and I think it's a bit absurd. For comparison, the industry standard is Nvidia. It trades at 27 times earnings right now. So, there is well over a year and a half worth of growth already priced into the stock.

By the beginning of 2028, I think AMD's stock will not have budged much. It needs to go through a year or so of lackluster stock growth so that business results can catch up to the stock price. The stock is well in front of the business right now, which can cause poor future returns. If you're sitting on big AMD gains, now may be the time to sell and find a different stock. If you haven't bought any, now probably isn't the best time to get in.

4D Molecular Therapeutics NASDAQ: FDMT used its first Investor Day to outline its development and commercial plans for 4D-150, an investigational intravitreal gene therapy for wet age-related macular degeneration, or wet AMD. Company executives and retina specialists described the therapy as a potential one-time “backbone” treatment intended to provide continuous disease control while reducing the burden of repeat anti-VEGF injections.

David Kirn, co-founder, president and CEO, said current wet AMD care relies on episodic bolus injections despite the disease being chronic and continuous. He said the mismatch can contribute to treatment lapses, patient burden and vision loss, particularly when patients miss appointments because of illness, transportation challenges or other life events.

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“Patients in the U.S. with wet AMD, the majority will lose vision,” Kirn said. “Many will still go blind.”

4D-150 program and clinical data
4D-150 uses a proprietary retinal-targeting vector designed for a single in-office intravitreal injection. According to Kirn, the therapy is intended to express aflibercept in the retina while also incorporating RNA interference targeting VEGF-C. He said the goal is to provide continuous anti-VEGF activity at the site of disease.

Arshad Khanani, a medical and surgical retina specialist at Sierra Eye Associates and a clinical investigator in the program, said repeat injections can be difficult for patients and caregivers, particularly because patients may need transportation and can spend hours at a clinic. He said real-world treatment discontinuation remains a major issue, with approximately 40% of patients dropping off therapy over time.

Carl Awh, president of Tennessee Retina, presented data from the Phase IIb PRISM study. He said 46% of treated eyes required no supplemental injections over two years, while two-thirds needed two or fewer supplemental injections. Awh said this represented a 78% reduction in treatment burden compared with an “idealized” aflibercept regimen given every eight weeks.

In a subgroup of recently diagnosed patients, Awh said two-thirds of patients required no additional injections over two years and nearly 90% required two or fewer. He characterized the results as an 87% reduction in treatment burden. He also said the study showed stable visual acuity and retinal anatomy, though he noted there was no control group in the Phase IIb trial.

Regarding safety, Awh said that among patients receiving the dose selected for Phase III development, two eyes experienced low-grade inflammation that resolved with topical therapy. He said those events occurred within the first 28 weeks and that no serious inflammation-related adverse events were reported through as long as four years of follow-up.

Two Phase III studies fully enrolled
Dhaval Desai, 4D Molecular Therapeutics’ chief development officer, said the company’s 4FRONT Phase III program consists of two nearly identical studies that are fully enrolled:

4FRONT-1 enrolled 523 patients in North America, all of whom were treatment-naive.
4FRONT-2 enrolled 531 patients globally and allowed up to 40% of participants to have received as many as four prior injections if diagnosed within the prior six months.

The primary endpoint is non-inferiority in best-corrected visual acuity at week 52 versus aflibercept 2 mg administered every eight weeks. Both study arms receive three initial loading doses. Desai said the company designed the trials with an approximately four-letter non-inferiority margin and has regulatory alignment through FDA Regenerative Medicine Advanced Therapy designation, EMA Priority Medicines designation and discussions with Japan’s PMDA.

Desai said the company expects Phase III visual-acuity results to be comparable with historical outcomes in treatment-naive wet AMD trials, where patients generally gained about six to eight letters at one year, depending on baseline vision. He declined to provide details on blinded safety findings from the ongoing trials.

Kirn said the company expects one Phase III readout in the first half of 2027 and the second in the second half of 2027. He also said the company’s cash runway extends into the second half of 2028.

Commercial strategy focuses on in-office use
Chris Simms, chief commercial and chief business officer, said 4D-150’s single intravitreal administration could allow it to fit into existing retina-clinic workflows without surgery. He said the company expects the therapy, if approved, to be reimbursed through the familiar Medicare Part B “buy-and-bill” model used for many retina treatments.

Simms estimated the global wet AMD and diabetic macular edema market at about $16 billion, with 60% of the value in the U.S. He said the company estimates approximately 600,000 U.S. wet AMD patients are currently receiving regular treatment, representing roughly 800,000 treated eyes because of bilateral disease. By 2030, the company estimates about 900,000 wet AMD eyes could be under treatment in the U.S.

The company said its market research found that 75% of retina specialists would consider prescribing 4D-150 within the first year after approval. Simms said early use would likely focus on patients with the greatest injection burden, followed by broader adoption as physicians gain confidence in real-world safety and reimbursement.

David Eichenbaum, director of research at Retina Vitreous Associates of Florida, said adoption would depend on clinical data, reimbursement confidence and the therapy’s ability to fit established practice processes. He said he would likely initially consider the therapy for high-need patients and some treatment-naive patients resembling those enrolled in clinical trials.

Company executives and participating physicians repeatedly emphasized that the eventual clinical and commercial outlook for 4D-150 remains dependent on Phase III results, regulatory review and reimbursement decisions.

About 4D Molecular Therapeutics (NASDAQ:FDMT)4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.

Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Advanced Micro Devices Inc. (NASDAQ:AMD) shares are in the spotlight Wednesday, with a new AI supercluster deployment in India, a Susquehanna price target increase, a broader semiconductor rally and caution ahead of economic data all drawing attention.

AMD has surged nearly 150% this year, but a brutal 13% weekly drop and a 199x trailing earnings multiple put bulls and bears on a collision course heading into the November 3 earnings report.

AMD (NASDAQ:AMD | AMD Price Prediction) closed at $534.74 on October 20. The projected 24/7 Wall St. price target of $543.60 implies 2.81% upside over the next 12 months. The model rates the stock a hold at high confidence.

24/7 Wall St. Price Target Summary

Metric
Value

Current Price
$528.75

24/7 Wall St. Price Target
$543.60

Upside/Downside
2.81%

Recommendation
HOLD

Confidence Level
90%

AMD has gained 146.89% year to date, and the stock now trades close to fair value in our model. The Q3 report arrives on November 3 after the close. That report needs to show the Helios ramp is real.

A 13% Weekly Slide Sets Up a Tense November Report
Over the past week, AMD fell 13.05%, including a 5.95% drop on October 16. Chip stocks sank in a global tech rout on AI funding worries, and fresh concerns about Anthropic added to the pressure. Shares are still up 3.17% over one month. They sit 19.7% below the 52-week high of $658.52.

Second-quarter revenue rose 50.1% to $11.54 billion, beating estimates. EPS of $1.66 exceeded the $1.61 consensus. Data Center sales jumped 107%. Even so, the stock fell 7.04% on the day of that report. For Q3, management guided to about $13B ±$300M in revenue.

Why Bulls See $688 Ahead
Lisa Su said Helios customer pull is “tracking ahead of our initial forecasts.” Management expects Data Center revenue to more than double in 2027. That outlook rests on large computing commitments: 6 gigawatts each from OpenAI and Meta Platforms (NASDAQ:META), plus up to 2 gigawatts from Anthropic. Su put the revenue per gigawatt in the “double digit billions.”

Those gigawatt-scale commitments are exactly the kind of early signal that showed up before the biggest AI winners took off, a pattern we broke down in a free playbook here: The Next Nvidia Playbook.

Analysts lean bullish, with 5 Strong Buy ratings, 39 Buys and zero Sells. Our bull case reaches $688.22, or 30.16% upside.

What Could Go Wrong at 199x Earnings
AMD trades at 199x trailing earnings, and its free cash flow yield is just 0.78%. Gaming revenue fell 31%, and export controls remain a risk. In Q4 2025, the stock dropped 17.31% even after a 15.98% EPS beat. The bear case sets the stock at $431.34.

One counterpoint: the trailing operating margin of 10.66% understates Q2’s 27% non-GAAP margin. Operating expenses rose 40%, mostly from AI R&D spending.

How AMD Compares to NVIDIA and Intel
NVIDIA (NASDAQ:NVDA) is AMD’s main rival in AI GPUs. It trades at 43x trailing earnings, which about matches AMD’s 43x forward multiple. NVIDIA is also growing revenue faster, at 105.85%.

Intel (NASDAQ:INTC) competes directly in x86 CPUs. Its Data Center and AI revenue grew 59% to $6.262 billion, but a GAAP loss rules out a meaningful P/E. Against this peer group, the 24/7 Wall St. target looks reasonable.

Company
Trailing P/E
Latest Quarter Revenue Growth

AMD
199x
50.1%

NVIDIA
43x
105.85%

Intel
Not meaningful (loss)
25.42%

Helios Shipments Will Decide the Next Move
Our 24/7 Wall St. price target of $543.60 comes with a hold rating and 90% confidence. In my view, the stock’s outlook improves if Q3 shows Helios shipping on schedule and Q4 guidance points to a steeper ramp.

I would grow more cautious if AI funding concerns delay customer data center buildouts.

The model projects where AMD could trade if current trends hold.

Year
24/7 Wall St. Price Target

2026
$518.57

2027
$566.86

2028
$582.72

2029
$578.47

2030
$642.91

These projections assume AMD continues following its current strategy. Gigawatt-scale deployments could add significant upside, while export controls could add downside.

Contact [email protected] for any questions or corrections.

Focused Alpha LLC trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 65.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953 shares of the semiconductor manufacturer’s stock after selling 1,791 shares during the quarter. Focused Alpha LLC’s holdings in Advanced Micro Devices were worth $583,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Southpoint Capital Advisors LP boosted its holdings in Advanced Micro Devices by 50.0% during the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock valued at $183,087,000 after purchasing an additional 300,000 shares in the last quarter. Boomfish Wealth Group LLC bought a new stake in shares of Advanced Micro Devices in the 1st quarter valued at approximately $1,193,000. Dimensional Fund Advisors LP raised its holdings in shares of Advanced Micro Devices by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock worth $1,045,954,000 after buying an additional 291,165 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Advanced Micro Devices by 6,968.7% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer’s stock worth $85,995,000 after buying an additional 138,328 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Advanced Micro Devices by 2,748.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer’s stock worth $52,582,000 after buying an additional 82,934 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets In other Advanced Micro Devices news, EVP Paul Grasby sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.91, for a total value of $7,723,650.00. Following the transaction, the executive vice president directly owned 117,687 shares of the company’s stock, valued at approximately $60,598,213.17. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Forrest Norrod sold 17,262 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the completion of the transaction, the executive vice president directly owned 353,317 shares in the company, valued at approximately $191,038,501.90. The trade was a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 231,100 shares of company stock valued at $114,867,400 over the last three months. 0.50% of the stock is owned by insiders.

Advanced Micro Devices Stock Performance Shares of NASDAQ:AMD opened at $534.74 on Wednesday. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 1-year low of $188.22 and a 1-year high of $658.52. The stock has a market capitalization of $872.95 billion, a P/E ratio of 137.47, a P/E/G ratio of 5.52 and a beta of 2.45. The business has a 50-day moving average price of $539.60 and a two-hundred day moving average price of $478.81. Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.31 billion. During the same quarter last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. Equities analysts predict that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current year.

Wall Street Analyst Weigh In Several analysts recently commented on AMD shares. Susquehanna boosted their price target on Advanced Micro Devices from $450.00 to $500.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. UBS Group reiterated an “overweight” rating on shares of Advanced Micro Devices in a research note on Friday, July 24th. Rosenblatt Securities reiterated a “buy” rating and set a $700.00 price objective on shares of Advanced Micro Devices in a research note on Tuesday, September 29th. Benchmark lifted their price objective on Advanced Micro Devices from $485.00 to $685.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Advanced Micro Devices from $635.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $603.51.

Read Our Latest Report on Advanced Micro Devices

Key Advanced Micro Devices News Here are the key news stories impacting Advanced Micro Devices this week:

Positive Sentiment: Analyst support remains firm: Wedbush reaffirmed its “Outperform” rating and set a $600 price target. Earlier, TD Cowen maintained a Buy rating with a $675 target, citing potential agentic-AI demand and roughly 70% growth in AMD’s CPU sales next year. Wedbush AMD rating Positive Sentiment: Growth expectations remain elevated: AMD is expected to report approximately $13 billion in third-quarter revenue, up about 41% year over year, ahead of its anticipated November 3 earnings report. The company has exceeded the high end of its guidance in each of the past two quarters. AMD earnings expectations Positive Sentiment: Sector rebound signals: Semiconductor stocks recovered from an early sell-off as AI jitters eased. Falling short interest in leveraged semiconductor funds and increased institutional buying suggest some investors view the recent weakness as a temporary pullback rather than a deterioration in chip demand. Chip stocks recover as AI jitters fade Neutral Sentiment: OpenAI fundraising highlights ongoing AI demand: OpenAI is reportedly seeking roughly $30 billion at a valuation above $1.4 trillion. However, the disclosed financing support centers on Nvidia, offering no direct new business commitment to AMD and underscoring intense competitive pressure in AI infrastructure. OpenAI fundraising and chip stocks Negative Sentiment: Valuation is a major overhang: After rising more than 155% this year, AMD trades at a very high earnings multiple, making the stock vulnerable to profit-taking and any disappointment in AI growth, margins or execution. Analysts have questioned whether the Helios ramp and future earnings can justify the valuation. AMD AI opportunity and valuation Negative Sentiment: AI bubble and financing concerns persist: Reports citing semiconductor declines, leveraged AI financing and uncertainty over data-center spending have revived fears that the AI buildout could slow or produce margin pressure. An executive’s $9.3 million Rule 10b5-1 stock sale adds a modest negative sentiment signal, although he retained a substantial position. Advanced Micro Devices Company Profile (Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

See Also Five stocks we like better than Advanced Micro Devices Aurora Rejects Curaleaf’s Higher Bid, But the Takeover Fight Isn’t Over Centrus Energy Is Building a Nuclear Fuel Powerhouse—Why Is Its Stock Struggling? Halliburton Gains Traction: Multiyear Upcycle Ahead Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).

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Recent events suggest funding is getting harder to come by for some artificial intelligence (AI) companies. Two weeks ago, Australian data center company, Firmus, cancelled its initial public offering (IPO) due to a lack of investor demand. Moreover, financing costs are soaring for data center operators like CoreWeave. To top things off, Anthropic could face a $500 billion reduction to its expected valuation when it eventually goes public.

This is all bad news for the semiconductor industry, because it could reduce demand for data center chips and components. As a result, Advanced Micro Devices (AMD -0.61%) stock plunged by 13% last week alone, as investors started pricing in a potential slowdown in sales growth.

But AMD is scheduled to release its operating results for the third quarter of 2026 (ended Sept. 30) after the market closes on Nov. 3, and if the company puts some of the recent concerns to bed, its stock could stage a powerful recovery. So, should investors buy the recent dip ahead of the report?

Image source: The Motley Fool.

AMD faces explosive demand, but will it last? AMD launched its first data center graphics processing unit (GPU) for AI workloads in 2023, and it was called the MI300X. It wasn't quite as powerful as Nvidia's (NVDA -0.29%) original H100 GPU, but customers like Oracle, Microsoft, and Meta Platforms deemed it a worthy alternative, particularly in the face of supply constraints across the industry.

AMD has since launched several new GPUs. The latest MI450 chips can be 15% more powerful and 30% more energy efficient than anything else on the market when paired with the company's Helios integrated data center rack. In other words, it appears AMD has officially closed the performance gap to Nvidia.

Anthropic and OpenAI are expected to be two of the largest buyers of MI450 GPUs (along with hyperscalers like Microsoft and Meta). But if Anthropic attracts a lower valuation than expected for its upcoming IPO, it might not raise as much money as it originally hoped, leaving it with less cash to buy chips.

OpenAI has postponed its IPO entirely, suggesting it doesn't feel confident about its ability to attract funding in the public markets. OpenAI has agreed to deploy 6 gigawatts' worth of computing capacity over the next few years using AMD's chips, starting with the MI450, and those plans could be at risk if the start-up doesn't receive significantly more funding.

Lisa Su's guidance on Nov. 3 will be key AMD generated $21.8 billion in revenue during the first six months of 2026 (to June 27), a 44% increase from the year-ago period. The data center business alone accounted for $12.5 billion of that total, and it grew at a much faster pace of 81%.

AMD's guidance suggests data center revenue likely grew at a "very strong double-digit" pace yet again in the third quarter. But looking ahead, chief executive Lisa Su thinks data center sales will more than double in 2027. Moreover, in a series of remarks earlier this month, Su revealed plans to substantially increase GPU supply next year, suggesting AMD might be targeting a higher market share.

Investors will be looking for updated commentary from Su on Nov. 3. If she maintains or even increases her 2027 outlook, it might put some of the recent jitters across the AI industry to rest -- at least temporarily. On the flipside, AMD stock could plummet even further if she tempers her previous expectations.

AMD stock is not cheap heading into Nov. 3 AMD generated adjusted (non-GAAP) earnings of $5.76 per share over its last four reported quarters, placing its stock at a price-to-earnings (P/E) ratio of 91.8 (based on its closing stock price last Friday, Oct. 16). That means it's more than three-times as expensive as its closest rival, Nvidia, which has a P/E ratio of 27.1.

$534.74-$3.31 (-0.61%)

NASDAQ · As of 4:00 PM ET 10/20/26

Therefore, AMD is basically priced for perfection heading into its Nov. 3 report, which doesn't seem appropriate given the uncertainty plaguing the AI industry. Even if we value its stock based on Wall Street's average 2027 earnings estimate of $15.76 per share (provided by Yahoo! Finance), its forward P/E ratio is still a hefty 33.5. In other words, if AMD stock did absolutely nothing until the end of next year, it would still be more expensive than Nvidia is today.

To make matters worse, Wall Street's earnings estimate might be too ambitious if funding conditions worsen for AI companies, because they might have to postpone or cancel some of their existing semiconductor orders.

As a result, while it's entirely possible AMD delivers another blockbuster quarterly report on Nov. 3, I'm not convinced its stock will rally given its elevated valuation. That's why I personally wouldn't buy it today.

Diversify Advisory Services LLC boosted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 16.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,377 shares of the semiconductor manufacturer’s stock after buying an additional 18,802 shares during the quarter. Advanced Micro Devices makes up about 1.1% of Diversify Advisory Services LLC’s holdings, making the stock its 18th biggest position. Diversify Advisory Services LLC’s holdings in Advanced Micro Devices were worth $74,989,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMD. First Citizens Financial Corp boosted its holdings in Advanced Micro Devices by 3.4% during the third quarter. First Citizens Financial Corp now owns 490 shares of the semiconductor manufacturer’s stock valued at $300,000 after acquiring an additional 16 shares during the period. Fearless Solutions LLC dba Best Invest grew its position in shares of Advanced Micro Devices by 1.5% in the third quarter. Fearless Solutions LLC dba Best Invest now owns 1,174 shares of the semiconductor manufacturer’s stock valued at $718,000 after purchasing an additional 17 shares during the last quarter. Private Client Services LLC grew its position in shares of Advanced Micro Devices by 1.7% in the third quarter. Private Client Services LLC now owns 1,079 shares of the semiconductor manufacturer’s stock valued at $660,000 after purchasing an additional 18 shares during the last quarter. Box Hill Private Wealth LLC increased its stake in shares of Advanced Micro Devices by 2.5% in the third quarter. Box Hill Private Wealth LLC now owns 794 shares of the semiconductor manufacturer’s stock worth $486,000 after purchasing an additional 19 shares during the period. Finally, Bullock Wealth Management Group increased its stake in shares of Advanced Micro Devices by 0.6% in the third quarter. Bullock Wealth Management Group now owns 3,321 shares of the semiconductor manufacturer’s stock worth $2,045,000 after purchasing an additional 20 shares during the period. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance
Shares of NASDAQ:AMD opened at $534.74 on Wednesday. Advanced Micro Devices, Inc. has a 1-year low of $188.22 and a 1-year high of $658.52. The firm has a market capitalization of $872.95 billion, a PE ratio of 137.47, a PEG ratio of 5.52 and a beta of 2.45. The business’s 50 day moving average is $539.60 and its 200-day moving average is $478.81. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. Advanced Micro Devices’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. Sell-side analysts predict that Advanced Micro Devices, Inc. will post 6.50 earnings per share for the current year.
Key Advanced Micro Devices News
Here are the key news stories impacting Advanced Micro Devices this week:

Positive Sentiment: Analyst support remains firm: Wedbush reaffirmed its “Outperform” rating and set a $600 price target. Earlier, TD Cowen maintained a Buy rating with a $675 target, citing potential agentic-AI demand and roughly 70% growth in AMD’s CPU sales next year. Wedbush AMD rating
Positive Sentiment: Growth expectations remain elevated: AMD is expected to report approximately $13 billion in third-quarter revenue, up about 41% year over year, ahead of its anticipated November 3 earnings report. The company has exceeded the high end of its guidance in each of the past two quarters. AMD earnings expectations
Positive Sentiment: Sector rebound signals: Semiconductor stocks recovered from an early sell-off as AI jitters eased. Falling short interest in leveraged semiconductor funds and increased institutional buying suggest some investors view the recent weakness as a temporary pullback rather than a deterioration in chip demand. Chip stocks recover as AI jitters fade
Neutral Sentiment: OpenAI fundraising highlights ongoing AI demand: OpenAI is reportedly seeking roughly $30 billion at a valuation above $1.4 trillion. However, the disclosed financing support centers on Nvidia, offering no direct new business commitment to AMD and underscoring intense competitive pressure in AI infrastructure. OpenAI fundraising and chip stocks
Negative Sentiment: Valuation is a major overhang: After rising more than 155% this year, AMD trades at a very high earnings multiple, making the stock vulnerable to profit-taking and any disappointment in AI growth, margins or execution. Analysts have questioned whether the Helios ramp and future earnings can justify the valuation. AMD AI opportunity and valuation
Negative Sentiment: AI bubble and financing concerns persist: Reports citing semiconductor declines, leveraged AI financing and uncertainty over data-center spending have revived fears that the AI buildout could slow or produce margin pressure. An executive’s $9.3 million Rule 10b5-1 stock sale adds a modest negative sentiment signal, although he retained a substantial position.

Insider Activity
In other Advanced Micro Devices news, EVP Mark Papermaster sold 28,811 shares of Advanced Micro Devices stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the sale, the executive vice president owned 1,261,461 shares in the company, valued at $595,245,602.07. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total transaction of $9,333,563.40. Following the completion of the sale, the executive vice president directly owned 353,317 shares in the company, valued at $191,038,501.90. This trade represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 231,100 shares of company stock valued at $114,867,400. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Weiss Ratings raised Advanced Micro Devices from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Raymond James Financial upgraded Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $565.00 to $641.00 in a research note on Tuesday, August 25th. BMO Capital Markets initiated coverage on Advanced Micro Devices in a report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 target price on the stock. UBS Group reaffirmed an “overweight” rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price target on Advanced Micro Devices from $615.00 to $700.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $603.51.

Read Our Latest Stock Report on AMD

(Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

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Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).

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Cathie Wood is one of America's most-watched tech investors, known for her extreme bullishness on Bitcoin and disruptive future technologies like robotics and artificial intelligence (AI). According to her company's most recent 13F SEC filing, as of the second quarter, Cathie Wood's Ark Invest portfolio had a total of $15.4 billion of assets under management.

But what do you get when you invest with Wood? Her firm's flagship exchange-traded fund (ETF), the Ark Innovation ETF (ARKK +1.35%), is making some rather top-heavy bets on just a few tech companies. As of Oct. 19, a significant weighting of the ARKK fund's total assets was invested in just these three stocks: Advanced Micro Devices (AMD -0.61%), Space Exploration Technologies (SPCX -0.11%), and Tesla (TSLA +1.53%).

Let's look at how much Cathie Wood's ARKK fund is investing in AMD, SPCX, and TSLA -- and whether this well-known tech ETF is likely to pay off for long-term investors.

Ark Investment Management CEO Cathie Wood. Image source: Getty Images.

ARKK: High concentration in AMD, SPCX, and TSLA
According to the Ark Innovation ETF top holdings as of Oct. 19, here's how much ARKK has invested in these three tech stocks:

Stock

Market Value ($) of ARKK Invest's Holdings

Weight (%) of ARKK

Advanced Micro Devices

$109,296,855

1.75%

SpaceX

$401,101,769

6.42%

Tesla

$608,185,1769.74%
Total

$1.12 billion

17.9%

Data source: Ark Invest

About 1.75% of the ARKK fund assets are in Advanced Micro Devices, a semiconductor stock that is helping to power the AI data center boom. Another roughly 6.4% is in SpaceX, and an even larger 9.7% is invested in Tesla -- a total of 16.2% of this tech ETF's funds are in Elon Musk's companies. Add in AMD, and you have about 18% of ARKK's total weighting.

How ARKK compares to the best tech ETFs
If you agree with Wood's investing approach, and you're optimistic about AI data centers and Musk's leadership in rocket technologies, electric vehicles, and the future of self-driving cars and robotics, then putting 18% of your money into those three stocks might seem like a good bet. Making concentrated investments can be a worthwhile strategy for delivering outsize gains.

But history shows that Wood's ARKK doesn't always beat the market and can sometimes be disappointing for investors. The Ark Innovation ETF has delivered annualized returns of about 14.3% since its inception in October 2014.

But that return has failed to outperform the S&P 500 after accounting for the actively managed ARKK fund's expense ratio of 0.75%. And ARKK has lost money for the past five years, with negative annualized returns of -4.06%.

ARKK Ark ETF Trust - Ark Innovation ETF$83.42+$1.11 (+1.35%)

NYSEMKT · As of 4:00 PM ET 10/20/26

ARKK had a great run of performance for a few years leading up to its all-time high in February 2021. But since then, this fund has failed to keep pace with the best tech ETFs.

What to buy instead of ARKK? Try the Vanguard Information Technology ETF (VGT)
If you feel like Wood's investment approach is overly optimistic about unproven technologies, or you don't want to make such a highly concentrated bet on one volatile semiconductor stock and Musk, the Vanguard Information Technology ETF (VGT -0.11%) might be a better buy for long-term investors. This low-cost index fund has delivered average annual returns of 20.9% for the past five years, far better than ARKK.

VGT Vanguard Information Technology ETF$120.20-$0.13 (-0.11%)

NYSEMKT · As of 4:00 PM ET 10/20/26

The VGT fund's portfolio includes 318 tech stocks. Advanced Micro Devices is one of the top 10 stock holdings in VGT, at 3.67% of the fund's assets. VGT does not hold Tesla or SpaceX stock because those companies are in sectors that VGT excludes under its benchmark's definition of "technology" companies. And VGT charges an expense ratio of only 0.09%.

AMD has surged over 155% this year while a brutal week-long selloff raises a critical question: does the stock price already capture the full AI opportunity, or is Wall Street still sleeping on what comes next?

Advanced Micro Devices (AMD - Free Report) closed the most recent trading day at $538.05, moving +1.76% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.41%. Elsewhere, the Dow saw a downswing of 0.07%, while the tech-heavy Nasdaq appreciated by 1.11%.

Heading into today, shares of the chipmaker had lost 5.55% over the past month, lagging the Computer and Technology sector's loss of 0.92% and the S&P 500's gain of 1.46%.

Investors will be eagerly watching for the performance of Advanced Micro Devices in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2026. It is anticipated that the company will report an EPS of $1.93, marking a 60.83% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $13.11 billion, showing a 41.8% escalation compared to the year-ago quarter.

AMD's full-year Zacks Consensus Estimates are calling for earnings of $7.55 per share and revenue of $50.61 billion. These results would represent year-over-year changes of +81.06% and +46.12%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for Advanced Micro Devices. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Advanced Micro Devices presently features a Zacks Rank of #3 (Hold).

Digging into valuation, Advanced Micro Devices currently has a Forward P/E ratio of 70.07. This denotes a premium relative to the industry average Forward P/E of 18.27.

One should further note that AMD currently holds a PEG ratio of 4.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Integrated Systems industry had an average PEG ratio of 1.32 as trading concluded yesterday.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 35, finds itself in the top 15% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

A Reddit trader claims he rode an AMD position all the way to $16 million, then cashed out completely, convinced the market had finally broken. Now the question is whether he read the signs right or walked away from something…

A trader on Reddit’s r/wallstreetbets says he turned an Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) position into a fortune, then sold all of it. On October 16, 2026, user DubiousChemistry posted “+$16,000,000 on AMD and SOXL. Sold it all,” saying he exited AMD shares bought “last June” along with his Direxion Daily Semiconductor Bull 3X Shares (NYSEARCA:SOXL) trade. He offered to verify the gain with video or brokerage statements. No proof has been posted, so the $16 million figure is still unconfirmed. He explained why he sold:

“I think the market has genuinely cracked under the macro pressure. Not going to open any equity longs for a while.”

Testing the Exit Call Against the Data
AMD rose 361.27% from $114.63 in early June 2025 to $528.75 at Friday’s close. It is up 158% year to date. The stock then fell 9.96% in a week. Jim Cramer described how fast the run happened on Mad Money:

“That’s how AMD could go from $188 in March to $658 by last week. Now we’re finding that maybe these moves were too big, too fast.”

The broader market stayed calm. The VIX peaked at 16.87 on October 14 and closed at 16.46 the next day, which is within its normal range. The day before the post, Taiwan Semiconductor Manufacturing guided fourth-quarter revenue up 58% year over year.

AMD’s Revenue and Earnings Kept Growing
AMD’s second-quarter revenue rose 50.1% to $11.54 billion, ahead of the $11.31 billion consensus. Non-GAAP EPS came in at $1.66, above the $1.61 estimate. Data Center revenue grew 107% to $6.72 billion. CEO Lisa Su said on the call:

“We are still in the early stages of a multi-year AI adoption cycle as deployments grow across a broad set of markets and workloads.”

“We now expect revenue to grow substantially above our prior target of greater than 35%, and we expect to significantly exceed our $20 annual EPS target within our strategic timeframe.”

Third-quarter guidance is about $13 billion. Meta Platforms (NASDAQ:META) plans to deploy up to 6 GW of Instinct GPUs, and Anthropic targets up to 2 GW.

How AMD Stacks Up Against NVIDIA and Intel
Competitor NVIDIA (NASDAQ:NVDA) is up only 17.27% this year and slipped 4.84% last week. Intel (NASDAQ:INTC) gained 156% year to date, then fell 10.59% last week. The selling hit this year’s biggest gainers hardest. On fundamentals, AMD reported its fifth consecutive quarter of record server CPU revenue and took x86 server share from Intel.

Reasons a Seller Might Want Cash
AMD trades at about 199 times earnings. Gaming revenue fell 31%, and supply is constrained. Su said:

“The server CPU supply chain is tight right now, and it has been tight for the first half of the year because much of this demand was unforecasted.”

Reddit sentiment on AMD plummeted from bullish to very bearish. Big institutions disagree. In 13F filings for the second quarter, 11 of 22 tracked funds added shares, while 8 cut.

Did He Sell Too Soon? What to Watch Next
The data shows a stock pulling back after a sharp run while the broader market stayed calm. Helios shipments were scheduled to begin in Q3 2026, so AMD’s third-quarter report will test whether demand is holding up. Riding a mania is one skill; knowing when to walk away is another, and we covered both sides in a free bubble survivor’s handbook. The Reddit member closed with this advice:

“Be grateful for whatever the market gives you, whether that be money or a lesson in mental discipline.”

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SteelPeak Wealth LLC trimmed its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,866 shares of the semiconductor manufacturer’s stock after selling 23,598 shares during the period. Advanced Micro Devices accounts for approximately 2.0% of SteelPeak Wealth LLC’s investment portfolio, making the stock its 11th biggest position. SteelPeak Wealth LLC’s holdings in Advanced Micro Devices were worth $82,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in shares of Advanced Micro Devices by 1.3% during the 3rd quarter. IFP Advisors Inc now owns 81,500 shares of the semiconductor manufacturer’s stock worth $50,744,000 after purchasing an additional 1,042 shares during the last quarter. Founders Grove Wealth Partners LLC lifted its stake in Advanced Micro Devices by 8.7% in the 3rd quarter. Founders Grove Wealth Partners LLC now owns 1,990 shares of the semiconductor manufacturer’s stock valued at $1,217,000 after purchasing an additional 160 shares during the last quarter. CRA Financial Services LLC lifted its stake in Advanced Micro Devices by 9.2% in the 3rd quarter. CRA Financial Services LLC now owns 2,542 shares of the semiconductor manufacturer’s stock valued at $1,555,000 after purchasing an additional 214 shares during the last quarter. Strata Wealth Advisors LLC lifted its stake in Advanced Micro Devices by 14.4% in the 3rd quarter. Strata Wealth Advisors LLC now owns 627 shares of the semiconductor manufacturer’s stock valued at $384,000 after purchasing an additional 79 shares during the last quarter. Finally, Center For Asset Management LLC bought a new position in Advanced Micro Devices during the third quarter worth about $366,000. 71.34% of the stock is owned by institutional investors.

Trending Headlines about Advanced Micro Devices Here are the key news stories impacting Advanced Micro Devices this week:

Positive Sentiment: Arete raised its AMD price target to $612 from $540, while recent commentary highlighted the company’s expanding data-center business, AI accelerator opportunity and open Helion rack-scale architecture. Arete Adjusts Price Target on Advanced Micro Devices Positive Sentiment: AMD’s credit-support agreement for Fermi’s Texas data-center power lease is viewed as a potential AI infrastructure catalyst, although Fermi still faces liquidity and lease-related risks. AMD’s Support Could Help Fermi Stock Neutral Sentiment: ETF investors were net sellers of AMD on October 14, adding to short-term trading pressure but offering little insight into the company’s operating outlook. ETFs Are Net Sellers of AMD Negative Sentiment: A broad semiconductor selloff intensified after a Qualcomm jury verdict, with Arm, AMD and Taiwan Semiconductor declining together. Investors are questioning whether AI infrastructure spending can sustain current expectations, particularly as elevated interest rates pressure richly valued growth stocks. Arm and AMD Fall as Qualcomm Verdict Adds to Chip Selloff Negative Sentiment: Analysts and investors are also reassessing AMD’s elevated valuation, AI financing risks and the sustainability of extremely high data-center spending. Reports of widespread insider selling may further weigh on sentiment, even though institutional ownership remains substantial. AMD Slides as Chip Selloff Continues Wall Street Analysts Forecast Growth A number of equities analysts have weighed in on AMD shares. KeyCorp set a $650.00 price target on Advanced Micro Devices in a research report on Wednesday, August 5th. Jefferies Financial Group set a $650.00 price objective on Advanced Micro Devices in a research note on Wednesday, August 5th. Morgan Stanley raised their price objective on Advanced Micro Devices from $410.00 to $465.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Susquehanna lifted their target price on Advanced Micro Devices from $450.00 to $500.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. Finally, UBS Group reiterated an “overweight” rating on shares of Advanced Micro Devices in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $603.51. Read Our Latest Research Report on Advanced Micro Devices

Advanced Micro Devices Price Performance Shares of Advanced Micro Devices stock opened at $528.75 on Monday. Advanced Micro Devices, Inc. has a twelve month low of $188.22 and a twelve month high of $658.52. The company has a quick ratio of 1.91, a current ratio of 2.61 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $537.02 and a two-hundred day simple moving average of $474.16. The stock has a market capitalization of $863.17 billion, a price-to-earnings ratio of 135.93, a price-to-earnings-growth ratio of 5.43 and a beta of 2.45.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The firm had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.31 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. Analysts forecast that Advanced Micro Devices, Inc. will post 6.49 EPS for the current year.

Insider Buying and Selling In related news, CEO Lisa T. Su sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $506.79, for a total transaction of $12,669,750.00. Following the sale, the chief executive officer owned 74,211 shares of the company’s stock, valued at $37,609,392.69. This represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ava Hahn sold 2,993 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $488.69, for a total value of $1,462,649.17. Following the sale, the senior vice president directly owned 26,623 shares in the company, valued at $13,010,393.87. This represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 213,838 shares of company stock valued at $105,533,836 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Advanced Micro Devices Company Profile (Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

Recommended Stories Five stocks we like better than Advanced Micro Devices These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).

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– LUCIA did not achieve the primary endpoint of statistical non-inferiority in mean change in BCVA versus on-label aflibercept control, despite demonstrating visual improvement –

– Key secondary endpoints in LUCIA were met including a superior 38% reduction in treatment burden (nominal p-value <0.0001), with 52% of eyes supplement-free and 71% receiving zero or one supplement up to Week 56, as well as strong anatomic control –

– Continued favorable safety profile for DURAVYU with redosing –

─ DME program remains on track with pivotal Phase 3 topline data from two identical clinical trials anticipated in Q4 2027 –

– Conference call to discuss the results to be held today at 8:00 a.m. EDT –

WATERTOWN, Mass., Oct. 19, 2026 (GLOBE NEWSWIRE) -- EyePoint, Inc. (Nasdaq: EYPT), a company committed to developing and commercializing innovative therapeutics to improve the lives of patients with serious retinal diseases, today announced topline results from LUCIA, the second pivotal Phase 3 clinical trial of DURAVYU™ (vorolanib intravitreal insert) for the treatment of wet age-related macular degeneration (wet AMD).

In LUCIA, despite demonstrating visual improvement, DURAVYU did not achieve the primary endpoint of statistical non-inferiority in mean change in best corrected visual acuity (BCVA) versus on-label 2 mg aflibercept control. DURAVYU achieved key secondary endpoints including a continued favorable safety profile with redosing, along with a meaningful reduction in treatment burden, durability as demonstrated by supplement-free rates, and strong anatomic control at Week 56, consistent with the first Phase 3 LUGANO clinical trial. EyePoint will complete additional analyses of the LUCIA and pooled Phase 3 datasets to further assess next steps for DURAVYU as a potential treatment for wet AMD.

“We are disappointed that the LUCIA trial did not meet the primary endpoint given the promising scientific rationale of DURAVYU and its potential to improve outcomes for patients with wet AMD. We sincerely thank the patients, caregivers, clinicians and study teams who participated,” said Jay S. Duker, M.D., President and Chief Executive Officer of EyePoint. “Both LUCIA and LUGANO demonstrated DURAVYU’s ability to control fluid and reduce the treatment burden for patients with wet AMD. These findings support DURAVYU’s therapeutic potential in DME. With the multifactorial and inflammatory nature of DME, as well as compelling results in the Phase 2 VERONA trial, we believe DURAVYU is well positioned to potentially deliver stable vision with fewer injections than standard of care. We remain focused on executing on our Phase 3 DME program and continue to be guided by our unwavering mission of serving the retinal disease community.”

LUCIA enrolled 475 patients and LUGANO enrolled 432 patients. Both trials randomized patients 1:1 to DURAVYU 2.7 mg every 24 weeks or on-label aflibercept 2 mg every eight weeks, with supplemental aflibercept as needed according to pre-specified criteria. LUGANO also did not meet the primary endpoint in its full dataset, despite demonstrating visual improvement. In LUGANO, DURAVYU also demonstrated strong and consistent performance across key secondary endpoints, including a 42% reduction in treatment burden (nominal p-value <0.0001), a favorable safety profile with redosing, durable supplement-free rates and strong anatomic control through Week 56.

“We are encouraged that more than 50% of DURAVYU patients remained supplement-free up to 56 weeks in both Phase 3 trials, providing further evidence of DURAVYU’s durability in retinal disease,” said Ramiro Ribeiro, M.D., Ph.D., Chief Medical Officer of EyePoint. “We remain confident in the DME program, supported by DURAVYU’s biologic activity through inhibition of VEGF and the IL-6/JAK1 pathway, its continued favorable safety profile, and the early visual and anatomic improvements observed in VERONA.”

The Phase 2 VERONA clinical trial in DME met its primary endpoint with extended time to first supplemental injection compared to aflibercept control for both DURAVYU doses. The trial also produced clinically meaningful outcomes, including a favorable safety profile with no DURAVYU-related ocular or systemic serious adverse events (SAEs) and an early and sustained improvement in vision and anatomical control. DURAVYU 2.7mg demonstrated a +7.1 letter BCVA gain and 76-micron central subfield thickness (CST) reduction at Week 24, with a supplement-free rate of 73% versus 50% for patients in the control arm. The Company continues to advance the ongoing pivotal COMO and CAPRI clinical trials, with topline data expected in the fourth quarter of 2027.

Conference Call Information

EyePoint management will host a conference call today, October 19, 2026, at 8:00 a.m. EDT to discuss the LUCIA topline results.

To access the live conference call and webcast, please register via the Events & Presentations page of the Investors section on the Company website at https://investors.eyepoint.bio/events-and-presentations/events. A webcast replay and the data presentation will also be available on the corporate website after the conference call.

About the Phase 3 Wet AMD Program

LUGANO and LUCIA are identical, randomized, double-masked, aflibercept-controlled, non-inferiority Phase 3 trials assessing the efficacy and safety of DURAVYU in patients with active wet AMD, including both treatment-naïve and treatment-experienced patients. More than 900 patients were enrolled across the two trials.

Patients were randomized 1:1 to receive either DURAVYU 2.7 mg every six months or on-label aflibercept every 8 weeks as control, after 3 monthly loading doses. DURAVYU is administered via a standard intravitreal injection in the physician's office, consistent with current retinal treatment practice with FDA-approved anti-VEGF treatments. The primary endpoint is non-inferiority in the average change from baseline in best-corrected visual acuity (BCVA) at the blended Weeks 52 and 56. Secondary endpoints include safety, reduction in treatment burden, percentage of eyes free of supplemental aflibercept injections, and anatomical outcomes as measured by optical coherence tomography (OCT). More information is available at www.clinicaltrials.gov (LUGANO: NCT06668064; LUCIA: NCT06683742).

About Wet AMD

Wet age-related macular degeneration (wet AMD) is a leading cause of vision loss and irreversible blindness in people over the age of fifty. Wet AMD is an advanced form of AMD that develops when abnormal blood vessels grow beneath the retina and leak blood or fluid, which can damage the macula and impair central vision.

Wet AMD is a lifelong disease requiring ongoing treatment to maintain visual function. Despite advances in treatments, frequent intravitreal injections remain a significant burden for patients, caregivers, physicians and the health care system, potentially leading to patient noncompliance and further vision loss. Current anti-VEGF therapies also primarily target extracellular VEGF signaling. There remains a need for durable therapies that can provide disease control while reducing treatment burden.

About DURAVYU™

DURAVYU™ (vorolanib intravitreal insert), is an investigational sustained-delivery treatment for patients suffering from serious retinal diseases. DURAVYU combines vorolanib, a selective and patent-protected tyrosine kinase inhibitor (TKI), with EyePoint’s proprietary next-generation bioerodible Durasert E™, a best-in-class intravitreal delivery technology designed to deliver sustained release of drug for at least six months without free-floating drug particles.

DURAVYU brings a potential new multi-mechanism of action and treatment paradigm for retinal diseases beyond existing anti-VEGF large molecule ligand blocking therapies, as vorolanib acts intracellularly to suppress angiogenesis through the inhibition of all VEGF receptors and PDGFR, while also suppressing inflammation through the inhibition of interleukin 6 (IL-6)/JAK1 signaling. In addition, vorolanib has demonstrated neuroprotective activity in an in vivo model of retinal detachment.

DURAVYU has been evaluated across multiple clinical trials in wet AMD and DME, including the Phase 2 DAVIO 2 and Phase 3 LUGANO and LUCIA trials in wet AMD and Phase 2 VERONA trial in DME, and is in ongoing Phase 3 COMO and CAPRI trials in DME. No drug-related safety concerns were observed in over 630 patients across six completed clinical trials, including three Phase 2 trials and 2 Phase 3 trials.

The Phase 2 VERONA trial in DME met the primary and secondary endpoints and demonstrated a rapid and sustained improvement in vision and anatomy and a continued favorable safety and tolerability profile with superior dosing intervals to standard of care. Pivotal data from the Phase 3 DME program is anticipated to be reported in the fourth quarter of 2027.

About EyePoint

EyePoint, Inc. (Nasdaq: EYPT) is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative therapeutics to improve the lives of patients with serious retinal diseases. The Company’s lead product candidate, DURAVYU™, is an innovative investigational sustained delivery treatment for serious retinal diseases combining vorolanib, a selective and patent-protected tyrosine kinase inhibitor, with EyePoint’s proprietary bioerodible Durasert E™ sustained-delivery technology. DURAVYU is currently being evaluated in Phase 3 pivotal trials for diabetic macular edema (DME).

The Company is committed to partnering with the retinal community to improve patient lives while creating long-term value, with four approved drugs over three decades and tens of thousands of eyes treated with EyePoint innovation.

EyePoint is headquartered in Watertown, Massachusetts, with a commercial manufacturing facility in Northbridge, Massachusetts.

Vorolanib is licensed to EyePoint exclusively by Equinox Sciences, a Betta Pharmaceuticals affiliate, for the localized treatment of all ophthalmic diseases outside of China, Macao, Hong Kong and Taiwan.

DURAVYU™ has been conditionally accepted by the FDA as the proprietary name for EYP-1901. DURAVYU is an investigational product; it has not been approved by the FDA. FDA approval and the timeline for potential approval is uncertain.

Forward Looking Statements

EYEPOINT SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding our expectations regarding our clinical development and regulatory plans; our plans to complete additional analyses of the LUCIA and pooled Phase 3 datasets to further assess next steps for DURAVYU as a potential treatment for wet AMD; our expectations regarding DURAVYU’s potential to improve treatment outcomes for patients with wet AMD; our belief that the LUCIA and LUGANO findings support DURAVYU’s therapeutic potential in DME; our belief that DURAVYU brings a potential new multi-mechanism of action and treatment paradigm for retinal diseases beyond existing anti-VEGF large molecule ligand blocking therapies; our belief that DURAVYU is positioned well to potentially deliver stable vision with fewer injections than standard of care; our expectations regarding the timing of the availability and release of DME clinical data, including topline results for Phase 3 COMO and CAPRI clinical trials in DME in the fourth quarter of 2027; our belief that DURAVYU has the potential to maintain patients with active disease with no supplemental anti-VEGF therapy for six months or longer; and other statements regarding the Company’s future plans, objectives, strategies and beliefs, as identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” or other words of similar meaning or the use of future dates.

Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause EyePoint’s actual results to be materially different than those expressed in or implied by EyePoint’s forward-looking statements. For EyePoint, these risks and uncertainties include the timing, progress and results of the Company’s clinical development activities; uncertainties and delays relating to communications with the U.S. Food and Drug Administration and the ability to obtain regulatory approval from FDA for the commercialization of DURAVYU; unanticipated costs and expenses; the Company’s cash and cash equivalents may not be sufficient to support its operating plan for as long as anticipated; the risk that results of clinical trials may not be predictive of future results, and interim and preliminary data are subject to further analysis and may change as more data becomes available; unexpected safety or efficacy data observed during clinical trials; uncertainties related to the regulatory authorization or approval process, and available development and regulatory pathways for approval of the Company’s product candidates; changes in the regulatory environment; disruptions at the FDA; changes in U.S. and international trade policies; changes in expected or existing competition; the success of current and future license agreements; our dependence on contract research organizations, and other outside vendors and service providers; product liability; the impact of general business and economic conditions; protection of our intellectual property and avoiding intellectual property infringement; retention of key personnel; delays, interruptions or failures in the manufacture and supply of our product candidates, including due to unanticipated regulatory compliance issues or warning letters relating to the Company’s manufacturing facilities; the availability of and the need for additional financing; our ability to obtain additional funding to support our clinical development programs; uncertainties regarding the FDA warning letter pertaining to the Company’s Watertown, MA manufacturing facility; and other factors described in our filings with the Securities and Exchange Commission. We cannot guarantee that the results and other expectations expressed, anticipated or implied in any forward-looking statement will be realized. A variety of factors, including these risks, could cause our actual results and other expectations to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements. Should known or unknown risks materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected in the forward-looking statements. You should bear this in mind as you consider any forward-looking statements. A more complete discussion of the risks and uncertainties that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K, in our other filings with the Securities and Exchange Commission (SEC) and in our future reports to be filed with the SEC, which are available at www.sec.gov. Our forward-looking statements speak only as of the dates on which they are made. EyePoint undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Investors & Media:

Robin Garner
VP, Corporate Communications & Investor Relations
[email protected]

Encompass More Asset Management grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 62.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,316 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,269 shares during the quarter. Encompass More Asset Management’s holdings in Advanced Micro Devices were worth $2,029,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMD. BlackRock Inc. raised its stake in Advanced Micro Devices by 3.1% in the second quarter. BlackRock Inc. now owns 150,301,510 shares of the semiconductor manufacturer’s stock valued at $87,311,650,000 after purchasing an additional 4,535,126 shares in the last quarter. State Street Corp lifted its position in Advanced Micro Devices by 2.9% during the second quarter. State Street Corp now owns 76,920,783 shares of the semiconductor manufacturer’s stock worth $46,606,266,000 after purchasing an additional 2,149,563 shares during the period. Bank of America Corp DE bought a new stake in Advanced Micro Devices during the second quarter worth about $7,022,226,000. Jennison Associates LLC lifted its position in Advanced Micro Devices by 5.8% during the second quarter. Jennison Associates LLC now owns 9,972,952 shares of the semiconductor manufacturer’s stock worth $5,793,388,000 after purchasing an additional 545,575 shares during the period. Finally, Wellington Management Group LLP grew its stake in Advanced Micro Devices by 33.9% during the second quarter. Wellington Management Group LLP now owns 9,334,396 shares of the semiconductor manufacturer’s stock worth $5,422,444,000 after buying an additional 2,365,419 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Advanced Micro Devices Here are the key news stories impacting Advanced Micro Devices this week:

Positive Sentiment: Arete raised its AMD price target to $612 from $540, while recent commentary highlighted the company’s expanding data-center business, AI accelerator opportunity and open Helion rack-scale architecture. Arete Adjusts Price Target on Advanced Micro Devices Positive Sentiment: AMD’s credit-support agreement for Fermi’s Texas data-center power lease is viewed as a potential AI infrastructure catalyst, although Fermi still faces liquidity and lease-related risks. AMD’s Support Could Help Fermi Stock Neutral Sentiment: ETF investors were net sellers of AMD on October 14, adding to short-term trading pressure but offering little insight into the company’s operating outlook. ETFs Are Net Sellers of AMD Negative Sentiment: A broad semiconductor selloff intensified after a Qualcomm jury verdict, with Arm, AMD and Taiwan Semiconductor declining together. Investors are questioning whether AI infrastructure spending can sustain current expectations, particularly as elevated interest rates pressure richly valued growth stocks. Arm and AMD Fall as Qualcomm Verdict Adds to Chip Selloff Negative Sentiment: Analysts and investors are also reassessing AMD’s elevated valuation, AI financing risks and the sustainability of extremely high data-center spending. Reports of widespread insider selling may further weigh on sentiment, even though institutional ownership remains substantial. AMD Slides as Chip Selloff Continues Advanced Micro Devices Price Performance Shares of NASDAQ:AMD opened at $528.75 on Monday. The company has a market cap of $863.17 billion, a price-to-earnings ratio of 135.93, a PEG ratio of 5.43 and a beta of 2.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The firm has a 50 day simple moving average of $537.02 and a 200 day simple moving average of $474.16. Advanced Micro Devices, Inc. has a one year low of $188.22 and a one year high of $658.52. Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. Advanced Micro Devices had a net margin of 15.58% and a return on equity of 12.30%. The company’s revenue was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Research analysts predict that Advanced Micro Devices, Inc. will post 6.49 earnings per share for the current fiscal year.

Insider Buying and Selling In related news, CEO Lisa Su sold 70,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $506.80, for a total transaction of $35,476,000.00. Following the sale, the chief executive officer owned 3,032,156 shares of the company’s stock, valued at $1,536,696,660.80. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Papermaster sold 28,811 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value of $13,595,046.57. Following the completion of the transaction, the executive vice president directly owned 1,261,461 shares of the company’s stock, valued at approximately $595,245,602.07. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 213,838 shares of company stock worth $105,533,836 in the last ninety days. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades Several research firms have commented on AMD. Susquehanna raised their target price on shares of Advanced Micro Devices from $450.00 to $500.00 and gave the company a “positive” rating in a report on Thursday, July 30th. CLSA restated an “outperform” rating and issued a $710.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, September 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $650.00 price target on shares of Advanced Micro Devices in a report on Wednesday, August 5th. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $540.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $603.51.

Check Out Our Latest Report on Advanced Micro Devices

Advanced Micro Devices Company Profile (Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

See Also Five stocks we like better than Advanced Micro Devices These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).

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Finer Wealth Management Inc. lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,793 shares of the semiconductor manufacturer’s stock after selling 1,187 shares during the quarter. Advanced Micro Devices makes up about 4.6% of Finer Wealth Management Inc.’s portfolio, making the stock its 6th biggest holding. Finer Wealth Management Inc.’s holdings in Advanced Micro Devices were worth $12,720,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. First Citizens Financial Corp increased its position in shares of Advanced Micro Devices by 3.4% during the 3rd quarter. First Citizens Financial Corp now owns 490 shares of the semiconductor manufacturer’s stock worth $300,000 after purchasing an additional 16 shares during the last quarter. Fearless Solutions LLC dba Best Invest raised its holdings in Advanced Micro Devices by 1.5% in the 3rd quarter. Fearless Solutions LLC dba Best Invest now owns 1,174 shares of the semiconductor manufacturer’s stock valued at $718,000 after buying an additional 17 shares during the period. Private Client Services LLC raised its holdings in Advanced Micro Devices by 1.7% in the 3rd quarter. Private Client Services LLC now owns 1,079 shares of the semiconductor manufacturer’s stock valued at $660,000 after buying an additional 18 shares during the period. Box Hill Private Wealth LLC raised its holdings in Advanced Micro Devices by 2.5% in the 3rd quarter. Box Hill Private Wealth LLC now owns 794 shares of the semiconductor manufacturer’s stock valued at $486,000 after buying an additional 19 shares during the period. Finally, Bullock Wealth Management Group lifted its position in Advanced Micro Devices by 0.6% in the third quarter. Bullock Wealth Management Group now owns 3,321 shares of the semiconductor manufacturer’s stock valued at $2,045,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets Several brokerages have weighed in on AMD. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $650.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. TD Cowen reiterated a “buy” rating on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $540.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, August 5th. CLSA restated an “outperform” rating and issued a $710.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, September 9th. Finally, Piper Sandler began coverage on shares of Advanced Micro Devices in a report on Tuesday, September 15th. They issued an “overweight” rating and a $600.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $603.51.

View Our Latest Report on AMD Insider Activity at Advanced Micro Devices In other news, EVP Jean X. Hu sold 15,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $474.08, for a total transaction of $7,111,200.00. Following the sale, the executive vice president owned 160,979 shares of the company’s stock, valued at approximately $76,316,924.32. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $506.79, for a total transaction of $12,669,750.00. Following the completion of the transaction, the chief executive officer directly owned 74,211 shares of the company’s stock, valued at approximately $37,609,392.69. The trade was a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 213,838 shares of company stock valued at $105,533,836. 0.50% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance AMD stock opened at $528.75 on Monday. The company has a current ratio of 2.61, a quick ratio of 1.91 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $863.17 billion, a PE ratio of 135.93, a P/E/G ratio of 5.43 and a beta of 2.45. Advanced Micro Devices, Inc. has a 12-month low of $188.22 and a 12-month high of $658.52. The business’s fifty day moving average price is $537.02 and its 200 day moving average price is $474.16.

Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last posted its earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. The firm had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.31 billion. During the same quarter in the prior year, the company earned $0.48 EPS. Advanced Micro Devices’s revenue was up 50.1% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.49 EPS for the current year.

More Advanced Micro Devices News Here are the key news stories impacting Advanced Micro Devices this week:

Positive Sentiment: Arete raised its AMD price target to $612 from $540, while recent commentary highlighted the company’s expanding data-center business, AI accelerator opportunity and open Helion rack-scale architecture. Arete Adjusts Price Target on Advanced Micro Devices Positive Sentiment: AMD’s credit-support agreement for Fermi’s Texas data-center power lease is viewed as a potential AI infrastructure catalyst, although Fermi still faces liquidity and lease-related risks. AMD’s Support Could Help Fermi Stock Neutral Sentiment: ETF investors were net sellers of AMD on October 14, adding to short-term trading pressure but offering little insight into the company’s operating outlook. ETFs Are Net Sellers of AMD Negative Sentiment: A broad semiconductor selloff intensified after a Qualcomm jury verdict, with Arm, AMD and Taiwan Semiconductor declining together. Investors are questioning whether AI infrastructure spending can sustain current expectations, particularly as elevated interest rates pressure richly valued growth stocks. Arm and AMD Fall as Qualcomm Verdict Adds to Chip Selloff Negative Sentiment: Analysts and investors are also reassessing AMD’s elevated valuation, AI financing risks and the sustainability of extremely high data-center spending. Reports of widespread insider selling may further weigh on sentiment, even though institutional ownership remains substantial. AMD Slides as Chip Selloff Continues (Free Report)

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.

Recommended Stories Five stocks we like better than Advanced Micro Devices These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding AMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report).

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.

Advanced Micro Devices (AMD -5.96%) shareholders have had a remarkable 2026. As of this writing, the stock is around $530, up more than 140% since the year started.

The last two weeks have been tougher. On Oct. 6, the stock closed at a record $649.42. Since then, it's dropped around 19%. And the pullback comes about two weeks before AMD reports third-quarter results on Tuesday, Nov. 3.

Is the stock worth buying before that report, or is it better to wait for management's update? I lean toward buying. Most of what the report has to show is already in AMD's own guidance.

Image source: AMD.

AMD keeps topping its own guidanceWhen AMD posted second-quarter results on Aug. 4, management guided for third-quarter revenue between $12.7 billion and $13.3 billion. The $13 billion midpoint is around 41% above the year-ago period and about 13% above the second quarter's record $11.5 billion. Management also sees a non-GAAP (adjusted) gross margin of around 56%, matching the second quarter.

AMD has given investors reason to trust these ranges. First-quarter revenue of $10.3 billion was above the top of the company's guidance range of $9.5 billion to $10.1 billion. Second-quarter revenue then edged just over the top of its range.

Profits are keeping up, too. Adjusted earnings per share hit $1.66 for the second quarter, up 21% sequentially. Against a year-ago quarter dragged down by $800 million of inventory and related charges linked to U.S. export controls, it more than tripled.

But a strong report hasn't guaranteed a strong reaction. Shares lost 7% the day after the second-quarter report, and the two reports before that brought a 17% slide in February and a 19% rise in May.

Will data center growth slow in Q3?Showing how much AMD now leans on it, the data center segment, which sells server processors and artificial intelligence (AI) accelerators, made up 58% of second-quarter revenue. Sales there climbed from $5.4 billion in the fourth quarter of 2025 to $5.8 billion and then $6.7 billion in the first two quarters of 2026. Year-over-year growth picked up every time: 39%, then 57%, then 107%.

But the run will probably end in the third quarter, at least on paper. The segment pulled in $4.3 billion in the year-ago quarter, so even 100% growth would mean around $8.7 billion in data center revenue -- about $2 billion over its second-quarter total. AMD's guidance adds only about $1.5 billion in revenue for the whole company, and management expects gaming sales to fall.

Chief financial officer Jean Hu said on the second-quarter earnings call that the data center acceleration AMD expects compares the second half of 2026 to the first half, not one quarter to the last. And management still sees strong double-digit sequential growth in data center revenue in the third quarter.

So, a slower year-over-year rate would mainly reflect a far tougher comparison, not a slowing business.

Helios is the bigger testMuch of AMD's growth from here rides on Helios, its rack-scale AI server system. On that same call, CEO Lisa Su spelled out the timing.

"We've said Q3 is the very beginning of the ramp, Q4 is a step-up, and then Q1 will be a further step-up and we'll ramp as we go through 2027," she said.

So the third-quarter results probably won't show much of Helios. The fourth-quarter revenue guidance AMD gives on Nov. 3 is likely where Su's step-up first shows up.

AMD Advanced Micro Devices$528.75-$33.48 (-5.96%)

NASDAQ · As of 4:00 PM ET 10/16/26

That outlook is also where the stock is most exposed. Going by analysts' average estimate, shares trade at around 34 times 2027 earnings, down from about 41 times 2027 earnings at the Oct. 6 record close. True, that's a lower valuation than the stock had at its high. But it still assumes Helios ramps on schedule. A fourth-quarter outlook with a smaller step-up than Su described could push shares down, even if third-quarter revenue tops its range again.

Investors who'd rather see that guidance before paying 34 times expected 2027 earnings have a reasonable case for waiting. After all, the stock has swung at least 7% the day after each of its past three reports.

Still, I think the pullback and AMD's record against its own guidance make the stock attractive at this price. I'd consider buying a starter position before the report and leave room to add if the price comes down.

Adanced Micro Devices (AMD -5.96%) investors have enjoyed some incredible gains during 2026. Currently, AMD is the ninth-best-performing component of the S&P 500, returning about 160% so far this year. While that figure was closer to 200% before the most recent sell-off, I think this is a wake-up call for most investors.

The reality is that AMD's stock got way too ahead of itself, and its valuation far outpaces its growth expectations. That is a major red flag for investors, and there are a few items investors need to keep an eye on as to when AMD could be a good buy again (hint: It won't be for a while).

Image source: Getty Images.

AMD is gaining ground, but not fast enough
The entire AMD investment thesis circles around AMD catching up to Nvidia (NVDA -1.43%) and taking market share. On the surface, it appears that AMD is making headway. It has huge projects like OpenAI's computing cluster, which is starting to be delivered, and is powering Meta Muse from Meta Platforms (META -3.72%). This has all led to stronger growth for AMD, with its data center division reporting $6.7 billion in revenue and growing by 107%. Overall, this helped the company grow its revenue 50% year over year to $11.5 billion in Q2.

AMD Advanced Micro Devices$528.75-$33.48 (-5.96%)

NASDAQ · As of 4:00 PM ET 10/16/26

Those are strong results that should be celebrated, but the problem is, it just isn't enough to catch Nvidia. During Q2, Nvidia's data center revenue reached $89 billion, up 117% year over year. Overall revenue rose to $96.2 billion, up 106% year over year. While AMD appears on the surface to be doing better, the reality is that Nvidia's lead is widening.

What makes matters worse is that Nvidia's Q2 results don't include any revenue from its upcoming generation of Vera Rubin architecture chips. This new generation promises major improvements, and they also cost more than previous generations. This will further exaggerate Nvidia's lead over AMD and eliminate the thesis that AMD is catching up.

But don't tell AMD's stock that, because according to it, AMD has won the AI arms race.

AMD's stock has uncoupled from its business
Over the long term, stocks and business growth are highly correlated. Over the short term, any number of factors can influence a stock's price. This is why long-term investing is easier for individual investors, as we can afford to wait for the business results to influence the stock price as long as we've found a company with a great long-term growth thesis.

AMD clearly has a great growth rate and a strong growth thesis over the long term; the problem is that the stock has gotten so far ahead of itself that all future returns have been priced in. For both AMD and Nvidia, I'd say a fair forward price-to-earnings ratio to pay is around 30 times forward earnings. If we stretch this projection and look at next year's forward earnings, AMD still isn't even close, while Nvidia is far below this threshold.

NVDA PE Ratio (Forward 1y) data by YCharts

So, even after 2027's growth is accounted for in the stock prices, AMD is still above the valuation threshold. I'd be comfortable paying for the stock. Meanwhile, Nvidia is about half the price. Remember, Nvidia is actually growing faster and is much larger than AMD, so this major uncoupling of valuations doesn't make a lot of sense.

I think this reveals an obvious statement: AMD has gotten overvalued after its incredible run in 2026. I think the smart move is to take gains in AMD stock, then invest them in Nvidia, as it's a far cheaper stock and, frankly, doing better as a business.

AMD's data center revenue just doubled and gigawatt-scale AI deals keep piling up, but a trailing P/E of 228 and a beta above 2.4 mean the stock can hurt as fast as it can reward. Here is what a disciplined…

Putting $1,000 a month into Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) for five years means committing $60,000 of your own money by 2031. AMD shares trade at $581.71. They are up 168.79% over the past year and down 10.43% over the past week.

With the stock moving that hard in both directions, buying a fixed dollar amount every month is one way to model a position.

What Your $60,000 Could Turn Into by 2031
Under the middle case, $1,000 a month in AMD could be worth about $65,677.07 by 2031. That is a total return of 9.46% on the $60,000 you put in. Behind that figure is a modeled five-year base-case share price of $655.96, measured from a model starting price of $591.22. That works out to a 10.95% price gain, or 2.1% a year.

How the dollar figures were built: the model gives a price for AMD at each annual point over five years. Each year’s $12,000 of monthly contributions is treated as if it were bought at that year’s point price, and all the shares are then valued at the 2031 target. It serves as a simplified annual estimate.

Bull, Base and Bear: Where Your Monthly Buys Could Land

Case
2031 Target Price
Share Price Return
Total Return on $60,000 Contributed
Ending Value

Bull
$918.51
55.36%
28.67%
$77,202.14

Base
$655.96
10.95%
9.46%
$65,677.07

Bear
$438.42
-25.84%
-6.89%
$55,867.44

The bear row shows the trade-off in monthly buying. If the stock falls, your later purchases pick up shares at lower prices, so the loss on your position is -6.89% while the share price itself falls 25.84%. The same practice reduces your gains in the bull case: you keep buying as the price rises toward $918.51.

Its confidence score is 0.9, which it labels as high. Over the next year it projects AMD near fair value (-1.2%), with a one-year base target of $583.84.

Analysts are more upbeat. The consensus analyst target is $636.21, and analysts give 5 strong-buy ratings, 39 buy ratings, 11 hold ratings and 0 sell ratings.

Three Growth Engines Behind the 2031 Targets
Data Center Revenue More Than Doubled
Second-quarter revenue rose 50.1% from a year earlier to $11.54B. Data Center revenue rises 107% to $6.72B, or 58% of total sales. Non-GAAP EPS of $1.66 came in ahead of the $1.6107 estimate. Management is guiding third-quarter revenue to about $13B.

Gigawatt-Scale AI Customers
Anthropic agreed to deploy up to 2 GW of MI450 Series GPUs in AMD’s Helios racks. That adds to deals with OpenAI for 6 GW and Meta Platforms (NASDAQ:META) for up to 6 GW. CEO Lisa Su said Helios shipments ramp “much more substantial in Q4”. She also said revenue per gigawatt is in the “double digit billions”.

All of that gigawatt-scale expansion has to be powered, cooled, and connected by someone other than the chipmaker, which is the whole point of a free report we put together on seven AI infrastructure suppliers: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers).

Raised Long-Term Targets
Su told analysts: “We expect to significantly exceed our $20 annual EPS target within our strategic timeframe.” The model’s forward EPS input is $12.4414, which puts AMD at a forward P/E of about 48.

Risks That Could Shrink Your Ending Balance
Valuation is the biggest risk. AMD trades at a trailing P/E of 228 and 147.61 times free cash flow, which leaves little room for a stumble. The stock’s beta is 2.454, meaning it tends to move more than twice as much as the broader market. Shares also fell after recent AI product announcements failed to re-energize investors.

U.S. export controls on AI chips sold to China cost AMD about $440M in inventory and related charges in FY25. AMD also relies on Taiwan Semiconductor Manufacturing (NYSE:TSM) to make its chips and on outside suppliers for memory and substrates.

Su has acknowledged that “the server CPU supply chain is tight right now.” Gaming revenue fell 31% in the latest quarter, and tariffs and competition from larger GPU rivals remain ongoing pressures.

Your $1,000-a-Month Plan by the Numbers
Across the three case, $60,000 invested in AMD a month at a time could be worth anywhere from $55,867.44 to $77,202.14 by 2031. The middle case lands near $65,677.07. These are modeled case with no guaranteed outcome.

This article is a projection for informational purposes only. Keep an eye on the Helios ramp and data center growth in each earnings report, since they will show which case AMD is actually tracking.

Contact [email protected] for any questions or corrections.