'Formula for an upset': AMD rally looks more fragile than Nvidia's as traders bid up AI [Financial Post (Toronto, Ontario, Canada)]
Advanced Micro Devices, Inc. (AMD)
Last advanced micro devices, inc. earnings: 4/28 04:25 pm
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Source: Financial Post
Advanced Micro Devices Inc. has kept pace with Nvidia Corp.' s furious ascent of late, but the factors underpinning its rally look less certain. Optimism over how the chipmaker will benefit from artificial intelligence is seen as overblown, suggesting recent gains could be at risk. Not only is AMD expected to grow slower than Nvidia — whose processing chips continue to be viewed as the gold standard — but the stock is much more expensive. Article content Article content “It is priced for perfection in the short term, and at these multiples I'm not willing to spin the roulette wheel for what could happen over the long term,” said Thomas Hayes, chairman and managing member of Great Hill Capital LP, citing declining free cash flow and expanding multiples. “That will always be a formula for an upset.” At a time when investors are bidding up nearly every stock with an AI story, AMD shares have risen 116 per cent since Oct. 26, 2023, when the Nasdaq 100 index bottomed. In that ti
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News
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AMD
Earnings
- 1/30/24 - Beat
AMD
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/15/24 - Form 144
- AMD's page on the SEC website