RESEARCH REPORT
Advanced Micro Devices, Inc.
AMD
$504.80
As of 2026-11-01
Research note — 2026-11-01. Educational analysis, not financial advice.
The one-line version
Advanced Micro Devices, Inc. trades near $504.80 on a trailing multiple of about 128.8x versus its own 5-year median near 54.6x, against contested Street targets and the usual concentration and execution risks. That's the tension. Everything below is the detail.
That's the tension. Everything below is the detail.
1. What you're paying
| Now | Its own 5-year median | Gap | |
|---|---|---|---|
| P/E (trailing) | ~128.8 | ~54.6 | +136% |
| P/E (forward) | ~31.7 | — | — |
| EPS (TTM) | 3.92 | — | — |
| Gross margin | 55.7% | — | — |
What that means in plain terms: the gap versus the company's own history is the growth or durability the market is already pricing. It is not automatically wrong — it is the bet.
Fair-value anchors on file:
- 5-year median P/E multiple: $214.16 — Applies the 5-year median multiple (54.6x) to trailing EPS.
- Street mean target: $640.21 — Average published analyst target.
- Street target midpoint: $807.50 — Midpoint of $365.00–$1,250.00 published range.
Street targets run from $365.00 to $1,250.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- Intel Has a Massive Warning for AMD Stock market participants. Is It Time to Book Profits Before Nov. 3?
- What to Expect From AMD’s Q3 Earnings
- AMD Just Dropped 11% in a Day as Intel’s PC Warning Rattles Chips. Is It Time to transact in, or Load Up?
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Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- Intel Is Down 45% in October, Its Worst Month Ever
- Apple Leads Packed Earnings Calendar As market participants Eye Tech, Pharma Results
- AMD Stock Fell 11% in a Day Ahead of Its November 3 Report. Here’s Why Intel’s 78% Data Center Jump Matters More to AMD Than Its PC Warning
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Bull case, bear case, assumptions, and what to watch next.
4. What would have to be true
For the stock to justify ~128.8x rather than its 5-year ~54.6x, roughly all of the following need to neutral:
- Growth or margin durability shows up in the next several reports, not just in narrative.
- Key revenue concentrations survive competitive and regulatory pressure.
- Execution on the current product or services cycle stays on schedule.
- The Street target range compresses as results clarify the contested assumptions.
Ask yourself honestly: how many of those would you bet on individually? Multiply your answers together.
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Bull case, bear case, assumptions, and what to watch next.
5. What to watch next
- Next earnings date: 2026-11-03
- Trailing and forward multiples versus the company's own history
- Segment growth rates in the next 10-Q / earnings release
- Material Form 4 and 13F changes
- Whether the Street high-to-low target spread narrows or widens
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Bull case, bear case, assumptions, and what to watch next.
6. What this note does not do
It doesn't tell you to buy or sell. It won't, ever.
You have the valuation in context, the strongest version of both cases, and the specific assumptions the current price depends on. What you do with that depends on your time horizon, your existing exposure, your risk tolerance, and what else you could do with the money — none of which we know.
If you want someone to tell you what to do, you want a licensed financial adviser, and that is a genuinely reasonable thing to want.
Educational and informational purposes only. Not investment advice and not a recommendation to buy or sell any security. GetStockReport is not a registered investment adviser. Figures are as of 2026-11-01 and go stale quickly — verify against primary sources before acting. All investments carry risk including loss of principal. Past performance does not guarantee future results.
8. Analyst ratings & targets
No recent activity
Analyst opinions change frequently. Past upgrades do not predict future returns.
9. Important news
Nov 5, 2026|AMD CEO issues a strong warning for the 2027 PC market(Yahoo)
The next wave of trouble is already brewing.
Nov 5, 2026|TSMC Is Up 30% in a Year and 19% Off Its High: Take Profits, or Buy More?(Yahoo)
Key TakeawaysTSMC stock is up 30% in the past year but sits 19% below its October high, after chip stocks sold off on Lam Research’s and Intel’s reports. TSMC’s business kept getting stronger, with a record $46.
Nov 5, 2026|The Deal With Meta & OpenAI Just Cost AMD $1.1 Billion(Yahoo)
The charge, equivalent to 66 cents per diluted share in AMD's earnings reconciliation, arrived as the chipmaker began shipping its new Instinct MI450 accelerators.
Nov 4, 2026|5 Best Performing AI Stocks in 2026(Yahoo)
We just published the list of 10 Best Performing AI Stocks in 2026. You can find the top 5 stocks below. Artificial intelligence is transforming industries while creating significant growth opportunities for companies. As businesses accelerate AI adoption, more publicly traded companies are benefiting from rising demand for AI-related products and services. Industry leaders are […]
Nov 4, 2026|AMD (AMD) Q3 Results Fuel AI Optimism But Valuation Caps Gains(Yahoo)
Advanced Micro Devices just posted its Q3 2026 scorecard and the headline is simple. The firm delivered its largest and most profitable quarter on record, yet the stock finished regular trading only 1% higher around US$488.85. For a business tied so directly to data center and artificial intelligence spending, that is a muted response to US$13.4b in quarterly revenue and a 56% non GAAP gross margin. Traders appear cautiously optimistic. The modest one day move suggests investors are wrestling...
News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
| Date | Executive | Action | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 7,262 | $616,180.7 |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 816 | $436,682.4 |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 823 | $441,218.53 |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 476 | $255,797.64 |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 1,208 | $650,193.92 |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 917 | $494,583.95 |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 1,969 | $1.1M |
| Oct 15, 2026 | Norrod Forrest Eugene (EVP & GM DSG) | Sell | 4,699 | $2.5M |
Form 4 filings are routine transactions. Scheduled sales (10b5-1 plans) are normal and not signals.
11. Institutional 13F holdings
| Fund | Shares | Position | Change |
|---|---|---|---|
| State Street | 74,361,687 | $43.2B | — |
| Vanguard Group | 142,338,013 | $30.5B | — |
| BlackRock | 60,400 | $9.8B | — |
| BlackRock Institutional Trust | 2,799,269 | $31.7M | — |
These are 45-day lagged filings (SEC requirement). Position changes happened in the past.
12. Earnings this week
No recent activity
Earnings dates are estimates and may shift. EPS estimates are consensus, not predictions.