TLDR
- AMD beat Q4 estimates with EPS of $1.53 vs $1.32 expected, and revenue of $10.27B — up 34.1% year-over-year
- The company projects 35% revenue CAGR over three years, with its data center segment expected to grow at 60% CAGR
- Eminence Capital raised its AMD stake by 5.5% to roughly $241.6M, while major institutions including Vanguard and State Street also hold large positions
- Insiders have sold 154,392 shares (~$33.1M) in the past 90 days, including recent sales by two EVPs
- A new Chinese GPU competitor (Lisuan Technology) and Meta’s in-house chip development are being watched as potential headwinds
AMD beat earnings, locked in a deal with Meta, and has its MI450 accelerator in the pipeline — but insiders have been selling and a new Chinese chip rival just showed up. Here’s the full picture.
Advanced Micro Devices, Inc., AMD
AMD reported Q4 earnings of $1.53 per share, beating the $1.32 consensus by $0.21. Revenue came in at $10.27 billion, ahead of the $9.65 billion estimate and up 34.1% from the same period last year.
The data center segment is the engine here. AMD guided for 60% CAGR in that business over the next three years, compared to its overall company target of 35% CAGR.
AMD’s stock opened at $193.39 on Friday. Its 50-day moving average sits at $216.16, and the 200-day at $210.13 — meaning the stock is currently trading below both.
The 52-week range is wide: $76.48 on the low end, $267.08 at the peak. The current price puts it well off those highs.
AMD’s P/E ratio sits at around 73, but the forward P/E is projected at 31 — close to the S&P 500’s average of 29. That’s an important distinction for long-term investors doing valuation work.
The company reached a multi-year patent licensing agreement with Adeia and showed off its AI telco products at MWC 2026. These moves support the longer-term roadmap without creating immediate share price catalysts.
AMD also signed an agreement with Meta Platforms to power its next-generation AI infrastructure. That’s a meaningful customer win in a space where Nvidia has dominated.
Institutional Buying — and Insider Selling
Eminence Capital raised its stake by 5.5% to 1,493,555 shares, worth roughly $241.6M. Vanguard holds 155.9M shares, and State Street holds 72M. Institutional investors own 71.34% of the company overall.
On the flip side, insiders have been selling. EVP Forrest Norrod sold 19,450 shares on February 11th at $216.81. EVP Paul Darren Grasby sold 7,500 shares on March 11th at $204.87. Total insider sales over the past 90 days: 154,392 shares valued at ~$33.1M.
Analysts remain broadly constructive. The consensus is “Moderate Buy” with an average price target of $290.53. Evercore has the highest target at $358, while Goldman Sachs sits at the more cautious end with a $240 target and a “neutral” rating.
Competitive Pressures Worth Watching
Two headwinds have emerged. Chinese GPU maker Lisuan Technology announced new products, adding to selling pressure across GPU names and raising competitive questions for both AMD and Nvidia.
Meta is also developing in-house AI chips, a trend that could reduce the addressable market for third-party chip suppliers over time.
AMD’s upcoming MI450 AI accelerator is expected to compete directly with Nvidia’s Vera Rubin chip. On several technical metrics, the MI450 is said to come out ahead.
AMD’s market cap stands at $315.3B. Insiders hold just 0.06% of the stock.
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