AMD
Advanced Micro Devices, Inc.
AMD has the edge over API overall, supported by stronger fundamentals and stronger modeled upside.
API
Agora, Inc.
API's outlook is improving, though it still trails on the overall score.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
API Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Stable |
API's revenue is currently healthy, and its profitability and balance sheet are stable, but its cash flow is under pressure.
AMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 39x | $585 | — |
| Cheap | 40x | $182 | -69% |
| Fair | 112x | $514 | -12% |
| Current | 127x | $585 | — |
| Expensive | 206x | $947 | +62% |
Historical ranges are pointers, not guarantees.
AMD's PE is in its fair range at 127x. If earnings grow as analysts expect, today's price would be 39x next year's earnings, in its cheap range.
API PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 36x | $4.09 | — |
| Cheap | 38x | $4.17 | +1.9% |
| Fair | 41x | $4.51 | +10% |
| Expensive | 82x | $9.03 | +121% |
Historical ranges are pointers, not guarantees.
API has the edge over AMD in the historical PE scenario, which offers more potential upside but is not a forecast.
AMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Low |
AMD has the edge over API on the outlook, with more favorable revenue expectations.
API Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect API's losses to shrink, with revenue holding steady.
AMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.05 | +227% |
| Q3 2026 | $4.60 | +127% |
| Q2 2026 | $3.89 | +122% |
| Q1 2026 | $3.05 | +123% |
| Q4 2025 | $2.65 | +165% |
| Q3 2025 | $2.03 | +81% |
| Q2 2025 | $1.75 | +111% |
| Q1 2025 | $1.37 | +99% |
| Q4 2024 | $1.00 | +89% |
AMD's earnings per share have climbed steadily: $4.60 over the past year, up 127% from the year before, and higher year over year for 11 quarters in a row.
API Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.11 | +$0.35 |
| Q1 2026 | $0.11 | +$0.46 |
| Q4 2025 | $0.10 | +$0.56 |
| Q3 2025 | $0.05 | +$0.54 |
| Q2 2025 | -$0.24 | +$0.22 |
| Q1 2025 | -$0.35 | +$0.45 |
| Q4 2024 | -$0.46 | +$0.40 |
| Q3 2024 | -$0.49 | +$0.66 |
API has returned to profit: it earned $0.11 per share over the past year, after losing money the year before. Its recent earnings include one-off gains.
AMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.4B | +45% |
| Q2 2026 | $11.5B | +50% |
| Q1 2026 | $10.3B | +38% |
| Q4 2025 | $10.3B | +34% |
| Q3 2025 | $9.2B | +36% |
| Q2 2025 | $7.7B | +32% |
| Q1 2025 | $7.4B | +36% |
| Q4 2024 | $7.7B | +24% |
AMD has the edge over API on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +7.4 points |
| Q2 2026 | 17% | +19 points |
| Q1 2026 | 14% | +3.6 points |
| Q4 2025 | 17% | +5.7 points |
| Q3 2025 | 14% | +3.1 points |
| Q2 2025 | -1.7% | -6.4 points |
| Q1 2025 | 11% | +10 points |
| Q4 2024 | 11% | +5.8 points |
AMD has the edge over API on profitability, with a higher operating margin.
API Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $40.5M | +18% |
| Q1 2026 | $37.9M | +14% |
| Q4 2025 | $38.2M | +11% |
| Q3 2025 | $35.4M | +12% |
| Q2 2025 | $34.3M | +0.1% |
| Q1 2025 | $33.3M | +0.8% |
| Q4 2024 | $34.5M | -4.4% |
| Q3 2024 | $31.6M | -9.8% |
API's revenue has grown year over year for six quarters in a row: $40M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -3.8% | +5.3 points |
| Q1 2026 | -6.5% | +4.6 points |
| Q4 2025 | -2.6% | +12 points |
| Q3 2025 | -4.5% | +74 points |
| Q2 2025 | -9.1% | +23 points |
| Q1 2025 | -11% | +27 points |
| Q4 2024 | -14% | +9 points |
| Q3 2024 | -78% | -39 points |
API's operating margin was −3.8% last quarter, up 5.3 points from the same quarter a year ago.
AMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $554M | -71% |
| Q2 2026 | $1.6B | -9.9% |
| Q1 2026 | $2.6B | +253% |
| Q4 2025 | $2.4B | +118% |
| Q3 2025 | $1.9B | +283% |
| Q2 2025 | $1.7B | +294% |
| Q1 2025 | $727M | +92% |
| Q4 2024 | $1.1B | +351% |
AMD has the edge over API on cash generation, producing positive trailing cash flow while its opponent burns cash.
API Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$8.1M | -$3.9M |
| Q1 2026 | -$3.7M | -155% |
| Q4 2025 | $4.7M | +$11.2M |
| Q3 2025 | -$12M | +$4.9M |
| Q2 2025 | -$4.1M | +$8M |
| Q1 2025 | $6.7M | +$20.6M |
| Q4 2024 | -$6.5M | -$2.8M |
| Q3 2024 | -$16.9M | -$11.8M |
API has burned cash in most quarters: −$19M over the past year, against −$21M the year before.
AMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +2M shares |
| 1 year | +1.2% | +20M shares |
| 3 years | +2% | +32M shares |
| 5 years | +35% | +431M shares |
| Available history | +40% | +473M shares |
AMD has 1.7B diluted shares, up 1.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $221M |
| Q4 2025 | — |
| Q3 2025 | $89M |
| Q2 2025 | $478M |
| Q1 2025 | $749M |
| Q4 2024 | $256M |
AMD has spent almost nothing on buybacks in the past year.
API Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.3% | -2.2M shares |
| 1 year | -5.9% | -5.8M shares |
| 3 years | -8.1% | -8.1M shares |
| 5 years | -16% | -18M shares |
| Available history | -9.3% | -9.5M shares |
API has the edge over AMD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3.7M |
| Q1 2026 | $13.3M |
| Q4 2025 | $10.9M |
| Q3 2025 | $4.7M |
| Q2 2025 | $10.9M |
| Q1 2025 | $1.2M |
| Q4 2024 | $1.4M |
| Q3 2024 | $3.9M |
API spent $33M buying back its own shares over the past year, up 88% from the year before.
AMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2020 | -1.0x | Net Cash |
| Q1 2020 | -0.8x | Net Cash |
| Q4 2019 | -1.2x | Net Cash |
AMD has more cash than debt.
API Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | -0.3x | Net Cash |
| Q3 2020 | -111.5x | Net Cash |
| Q2 2020 | -114.0x | Net Cash |
API's net debt is about 2.0 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
AMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.3 | Neutral |
| Stochastic | 41.4 | Neutral |
AMD's weekly RSI is 59 (neutral) and its Stochastic is 41 (neutral).
API Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.5 | Neutral |
| Stochastic | 35.3 | Neutral |
API's weekly RSI is 48 (neutral) and its Stochastic is 35 (neutral).
AMD PE vs Technology Sector
| Metric | AMD | Sector median | Relative |
|---|---|---|---|
| PE | 127x | 28x | 357% above |
| PE % | 61 | 35 | 26 pts above |
AMD is trading at 127x earnings, a 357% premium to the Technology sector's median of 28x.
API PE vs Technology Sector
| Metric | API | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 28x | 28% above |
| PE % | 2 | 36 | 34 pts below |
API has the edge over AMD on valuation relative to its sector.
AMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $557.2 | 5.1% above |
| 20 week MA | $525.9 | 11% above |
| 50 week MA | $389.7 | 50% above |
| 100 week MA | $266.9 | 119% above |
| 200 week MA | $199.6 | 193% above |
AMD has the edge over API on trend strength, trading above more of its moving averages.
API Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.23 | 3.3% below |
| 20 week MA | $4.19 | 2.4% below |
| 50 week MA | $4.13 | 1% below |
| 100 week MA | $4.08 | 0.2% above |
| 200 week MA | $3.54 | 16% above |
API has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 16% above its 200-week average.
AMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.2 | $91.8 | +99% |
| 2021 | $91.8 | $146.1 | +59% |
| 2022 | $146.1 | $64.5 | -56% |
| 2023 | $64.5 | $147.4 | +128% |
| 2024 | $147.4 | $125.2 | -15% |
| 2025 | $125.2 | $215.0 | +72% |
| 2026 YTD | $215.0 | $585.3 | +172% |
AMD has the edge over API on returns for 2026, with the stronger performance.
API Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.5 | $42.4 | -16% |
| 2021 | $42.4 | $16.7 | -61% |
| 2022 | $16.7 | $4.02 | -76% |
| 2023 | $4.02 | $2.63 | -35% |
| 2024 | $2.63 | $4.40 | +67% |
| 2025 | $4.40 | $3.93 | -11% |
| 2026 YTD | $3.93 | $4.09 | +4.1% |
API has finished lower in five of the last six years. It's up 4.1% so far in 2026.