AMD
Advanced Micro Devices, Inc.
AMD has the edge over APLD overall, supported by stronger fundamentals and lower modeled downside.
APLD
Applied Digital Corporation
APLD trails on the overall score without a compensating advantage in the available component scores.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
APLD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Weak |
APLD's revenue is currently strong, but its profitability, cash flow and balance sheet are weak.
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.
APLD PE Valuation
APLD has no meaningful PE right now: it lost money over the past year.
AMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Low |
AMD has the edge over APLD on the outlook, with more favorable earnings expectations.
APLD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect APLD's losses to grow, with revenue growing. However, they disagree widely on these estimates.
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 has the edge over APLD on earnings quality, reporting a profit while its opponent remains loss making.
APLD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.66 | -$0.53 |
| Q2 2026 | -$0.91 | +$0.18 |
| Q1 2026 | -$0.74 | +$0.68 |
| Q4 2025 | -$0.54 | +$1.24 |
| Q3 2025 | -$1.13 | +$0.09 |
| Q2 2025 | -$1.09 | +$0.22 |
| Q1 2025 | -$1.42 | -$0.61 |
| Q4 2024 | -$1.78 | -$1.41 |
APLD lost $1.66 per share over the past year, and its loss has widened in each of the last three quarters.
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's revenue has grown year over year for 13 quarters in a row: $13.4B last quarter, up 45% from the same quarter a year ago.
| 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 APLD on profitability, with a higher operating margin.
APLD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $341.9M | +432% |
| Q2 2026 | $258.7M | +407% |
| Q1 2026 | $126.6M | +139% |
| Q4 2025 | $126.6M | +98% |
| Q3 2025 | $64.2M | +5.8% |
| Q2 2025 | $51.1M | +17% |
| Q1 2025 | $52.9M | +22% |
| Q4 2024 | $63.9M | +51% |
APLD has the edge over AMD on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -18% | +17 points |
| Q2 2026 | -48% | +38 points |
| Q1 2026 | -68% | -32 points |
| Q4 2025 | -24% | +4.7 points |
| Q3 2025 | -35% | -50 points |
| Q2 2025 | -86% | -23 points |
| Q1 2025 | -36% | +93 points |
| Q4 2024 | -29% | -9.8 points |
APLD's operating margin was −18% last quarter, up 16 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 APLD on cash generation, producing positive trailing cash flow while its opponent burns cash.
APLD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2B | -$1.7B |
| Q2 2026 | -$1.2B | -$965.1M |
| Q1 2026 | -$720.2M | -$468.6M |
| Q4 2025 | -$567.9M | -$344.6M |
| Q3 2025 | -$331.4M | -$200.8M |
| Q2 2025 | -$191.4M | -$102.5M |
| Q1 2025 | -$251.6M | -$249.3M |
| Q4 2024 | -$223.3M | -$214.6M |
APLD has burned cash in most quarters: −$4.5B over the past year, against −$998M 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 the edge over APLD on shareholder dilution, with a more favorable share count trend.
| 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.
APLD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +5.9% | +16.4M shares |
| 1 year | +14% | +35.7M shares |
| 3 years | +210% | +198M shares |
| 5 years | +19195% | +290M shares |
APLD has 292M diluted shares, up 14% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
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.
APLD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2025 | 25.6x | High |
| Q1 2025 | -1.1x | Net Cash |
| Q4 2024 | -10.7x | Net Cash |
| Q3 2024 | -2.2x | Net Cash |
APLD's net debt is more than 20 years of its operating earnings (EBITDA).
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).
APLD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.9 | Neutral |
| Stochastic | 11.8 | Oversold |
APLD's weekly RSI is 35 (neutral) and its Stochastic is 12 (oversold).
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.
APLD PE vs Technology Sector
APLD has no meaningful PE right now: it lost money over the past year.
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 APLD on trend strength, trading above more of its moving averages.
APLD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.2 | 16% below |
| 20 week MA | $25.0 | 32% below |
| 50 week MA | $30.2 | 44% below |
| 100 week MA | $21.8 | 22% below |
| 200 week MA | $13.6 | 24% above |
APLD has fallen below most of its moving averages, though it's still 24% 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 APLD on returns for 2026, with the stronger performance.
APLD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2022 | $4.78 | $1.92 | -60% |
| 2023 | $1.92 | $6.74 | +251% |
| 2024 | $6.74 | $8.39 | +24% |
| 2025 | $8.39 | $24.1 | +187% |
| 2026 YTD | $24.1 | $17.0 | -30% |
APLD's yearly returns have swung widely, from +251% in 2023 to −60% in 2022. It's down 30% so far in 2026.