AMD
Advanced Micro Devices, Inc.
AMD has the edge over HLIT overall, supported by stronger fundamentals and stronger modeled upside.
HLIT
Harmonic Inc.
HLIT'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.
HLIT Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Stable | |
| Strong |
HLIT's balance sheet is currently strong, and its cash flow is stable, but its revenue and profitability are 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.
HLIT PE Valuation
HLIT 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 |
Analysts expect strong earnings and revenue growth for AMD, with profitability improving. However, they disagree widely on these estimates.
HLIT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for HLIT, with profitability improving.
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 HLIT on earnings quality, reporting a profit while its opponent remains loss making.
HLIT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.82 | — |
| Q3 2026 | -$0.30 | -171% |
| Q2 2026 | -$0.41 | -169% |
| Q1 2026 | -$0.36 | -180% |
| Q4 2025 | -$0.38 | -215% |
| Q3 2025 | $0.42 | -43% |
| Q2 2025 | $0.59 | +20% |
| Q1 2025 | $0.45 | -26% |
| Q4 2024 | $0.33 | -54% |
HLIT has swung to a loss: it lost $0.30 per share over the past year, after a profit the year before.
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 HLIT 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 HLIT on profitability, with a higher operating margin.
HLIT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $148.8M | +4.5% |
| Q2 2026 | $133.5M | -3.3% |
| Q1 2026 | $121.7M | -8.6% |
| Q4 2025 | $98.2M | -56% |
| Q3 2025 | $142.4M | -27% |
| Q2 2025 | $138M | -0.5% |
| Q1 2025 | $133.1M | +9.1% |
| Q4 2024 | $222.2M | +33% |
HLIT's revenue has slid since its 2024 peak: $149M last quarter, up 4.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +11 points |
| Q2 2026 | 18% | +15 points |
| Q1 2026 | 17% | +9.2 points |
| Q4 2025 | 3.8% | -20 points |
| Q3 2025 | 6.9% | -11 points |
| Q2 2025 | 2.8% | +14 points |
| Q1 2025 | 7.6% | +15 points |
| Q4 2024 | 24% | +18 points |
HLIT's operating margin was 18% last quarter, up 11 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 HLIT on cash flow, with more consistent year-over-year improvement.
HLIT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $47.4M | +125% |
| Q2 2026 | -$59.6M | -$44.1M |
| Q1 2026 | $30.3M | -63% |
| Q4 2025 | $9.6M | -79% |
| Q3 2025 | $21M | +267% |
| Q2 2025 | -$15.5M | +$8.6M |
| Q1 2025 | $81.7M | +228% |
| Q4 2024 | $46.2M | +1204% |
HLIT still generates free cash flow, though less than at its 2025 peak: $28M over the past year.
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.
HLIT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +577K shares |
| 1 year | -2.7% | -3.1M shares |
| 3 years | -1.6% | -1.8M shares |
| 5 years | +3.6% | +3.8M shares |
| Available history | +13% | +12.8M shares |
HLIT has the edge over AMD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.6M |
| Q2 2026 | $1,000 |
| Q1 2026 | $43M |
| Q4 2025 | $13.3M |
| Q3 2025 | $15.7M |
| Q2 2025 | $14M |
| Q1 2025 | $36.1M |
| Q4 2024 | — |
HLIT spent $60M buying back its own shares over the past year, down 9% 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.
HLIT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -1.8x | Net Cash |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | 0.1x | Very low |
HLIT has more cash than debt.
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).
HLIT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 13.5 | Oversold |
HLIT's weekly RSI is 44 (neutral) and its Stochastic is 14 (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.
HLIT PE vs Technology Sector
| Metric | HLIT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
HLIT 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 HLIT on trend strength, trading above more of its moving averages.
HLIT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.5 | 0.5% below |
| 20 week MA | $11.6 | 9.8% below |
| 50 week MA | $11.3 | 7.6% below |
| 100 week MA | $10.7 | 1.9% below |
| 200 week MA | $11.8 | 11% below |
HLIT is in a downtrend: it's below all five of its weekly moving averages, and 11% below 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 HLIT on returns for 2026, with the stronger performance.
HLIT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.64 | $7.19 | -5.9% |
| 2021 | $7.19 | $11.7 | +63% |
| 2022 | $11.7 | $13.0 | +11% |
| 2023 | $13.0 | $13.0 | +0.3% |
| 2024 | $13.0 | $13.5 | +3.1% |
| 2025 | $13.5 | $9.96 | -26% |
| 2026 YTD | $9.96 | $10.5 | +5.1% |
HLIT has finished higher in four of the last six years. It's up 5.1% so far in 2026.