Advanced Micro Devices Inc.
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+ FollowMarket Cap$873.72B
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Earnings Call Q3 2026
November 3, 2026 - AI Summary
Massive momentum / upside vs guidance (Q3 results): Revenue $13.4B (+45% YoY), the largest and most profitable quarter in AMD’s history; non-GAAP EPS $2.09 (+74% YoY). Data center became the dominant mix driver: data center revenue $8.5B (+97% YoY) and ~64% of total revenue (up from 58% last quarter and 47% a year ago). Gross margin 56% (+190 bps YoY) and operating margin 29% (up >5 pts YoY) driven by operating leverage and richer mix.
2026 Q4 outlook (strong sequential acceleration led by data center): Company guides Q4 revenue ~ $17.0B ±3% (midpoint ~66% YoY growth). Sequentially expects ~+27%, with data center ~+50%, client & gaming down >20%, and embedded growing double-digit. Non-GAAP gross margin ~55% and OpEx ~ $3.75B; effective tax rate ~13%. Non-GAAP share count ~1.67B (includes assumed effects of acquisitions; not expecting warrants to impact Q4 share count).
Big forecast: 2027 growth >80% with data center becoming >80% of the company: AMD now expects 2027 revenue growth >80%, driven by a faster-than-long-term-model ramp and improved customer deployment plans. Server revenue ~doubling YoY in 2027 (from a “fairly high” 2026 base). Data center CPU about doubling and data center AI “significantly more than double”—with data center AI crossing over to be larger than server CPUs in Q4. AMD expects data center to be >80% of total revenue in 2027, and embedded growth to accelerate next year.
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$46.94
91.2% downside
Current Fair Value
91.2% downsideOvervalued by 91.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $873.72 Billion |
|---|---|
| Enterprise Value | $875.22 Billion |
| Earnings per Share | $2.67 |
| Beta | 2.49 |
| Outstanding Shares | 1,636,000,000 |
Return
| Return on Equity | 11.22% |
|---|---|
| Return on Assets | 8.09% |
| Return on Invested Capital | 11.31% |
Valuation & Multiples
| P/E Ratio | 96.36 |
|---|---|
| PEG | 99.67 |
| Price to Sales | 19.78 |
| Price to Book Ratio | 13.03 |
| Enterprise Value to Revenue | 19.22 |
| Enterprise Value to EBIT | 96.97 |
| Enterprise Value to Net Income | 114 |
| Total Debt to Enterprise | 0.01 |
| Debt to Equity | 0.13 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS
$2.09
Est. $1.95Revenue
$13.38 B
Est. $13.10 BNext Earnings Call
Expected Date
February 2, 2027
EPS Estimate
$2.90
Consensus analyst estimateRevenue Estimate
$17.06 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.22, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.2183▼ 3.21% |
|---|---|
| Total Calls | 4,914,890▼ 94.79% |
| Total Puts | 5,987,975▼ 94.92% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 11.79%▼ 60.86% |
|---|---|
| Total Invested | $117.24B▼ 82.85% |
| Investors Holding | 2,507▼ 1720.00% |
About Advanced Micro Devices Inc.
11,400 employees
CEO: Lisa Su
Advanced Micro Devices, Inc. is an American multinational semiconductor company based in Santa Clara, California, that develops computer processors and related technologies for business and consumer markets. While it initially manufactu...