AMD
Advanced Micro Devices, Inc.
AMD offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
IT
Gartner, Inc.
IT has a slight edge over AMD overall, supported by stronger valuation and lower modeled downside.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
IT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Healthy |
IT's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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.
IT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $191 | — |
| Current | 14x | $191 | — |
| Cheap | 21x | $288 | +51% |
| Fair | 36x | $503 | +164% |
| Expensive | 49x | $692 | +263% |
Historical ranges are pointers, not guarantees.
IT 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 IT on the outlook, with more favorable revenue expectations.
IT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect IT's earnings to grow and its profitability to improve, with its 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 has the edge over IT on earnings, with more consistent year-over-year improvement.
IT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $16.18 | +15% |
| Q3 2026 | $14.03 | +23% |
| Q2 2026 | $11.15 | -31% |
| Q1 2026 | $10.12 | -37% |
| Q4 2025 | $9.65 | -40% |
| Q3 2025 | $11.37 | -16% |
| Q2 2025 | $16.22 | +54% |
| Q1 2025 | $16.04 | +59% |
| Q4 2024 | $16.00 | +44% |
IT earned $14.03 per share over the past year, up 23% from 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 IT 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 IT on profitability, with a higher operating margin.
IT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | -1.3% |
| Q2 2026 | $1.7B | -0.6% |
| Q1 2026 | $1.5B | -1.5% |
| Q4 2025 | $1.8B | +2.2% |
| Q3 2025 | $1.5B | +2.7% |
| Q2 2025 | $1.7B | +5.7% |
| Q1 2025 | $1.5B | +4.2% |
| Q4 2024 | $1.7B | +8.1% |
IT's revenue grew through 2024 and has held roughly level since: $1.5B last quarter, down 1.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +13 points |
| Q2 2026 | 23% | +3.2 points |
| Q1 2026 | 21% | +2.8 points |
| Q4 2025 | 19% | +0.5 points |
| Q3 2025 | 5.7% | -11 points |
| Q2 2025 | 19% | -0.6 points |
| Q1 2025 | 18% | -0.5 points |
| Q4 2024 | 19% | -0.5 points |
IT's operating margin was 19% last quarter, up 13 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 IT on cash flow, with stronger typical year-over-year growth.
IT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $275.2M | +2.2% |
| Q2 2026 | $378.4M | +8.9% |
| Q1 2026 | $370.6M | +29% |
| Q4 2025 | $270.7M | -13% |
| Q3 2025 | $269.3M | -52% |
| Q2 2025 | $347.3M | +2% |
| Q1 2025 | $287.9M | +73% |
| Q4 2024 | $311.4M | +59% |
IT's free cash flow has been positive every quarter for seven years: $1.3B over the past year, up 6.5% from 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.
IT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -4% | -2.6M shares |
| 1 year | -15% | -11M shares |
| 3 years | -20% | -15.6M shares |
| 5 years | -25% | -20.8M shares |
| Available history | -30% | -27M shares |
IT has the edge over AMD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $138.2M |
| Q2 2026 | $547.1M |
| Q1 2026 | $534.6M |
| Q4 2025 | $498.5M |
| Q3 2025 | $1.1B |
| Q2 2025 | $274.5M |
| Q1 2025 | $162.7M |
| Q4 2024 | $102M |
IT spent $1.7B buying back its own shares over the past year, up 7.8% 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.
IT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.9x | Very low |
| Q2 2026 | 1.1x | Healthy |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | 1.0x | Healthy |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.4x | Very low |
IT's net debt is less than a year 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).
IT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.6 | Neutral |
| Stochastic | 58.0 | Neutral |
IT's weekly RSI is 52 (neutral) and its Stochastic is 58 (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.
IT PE vs Technology Sector
| Metric | IT | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 28x | 51% below |
| PE % | 1 | 35 | 34 pts below |
IT 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 IT on trend strength, trading above more of its moving averages.
IT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $201.2 | 5.1% below |
| 20 week MA | $181.2 | 5.3% above |
| 50 week MA | $179.6 | 6.3% above |
| 100 week MA | $277.0 | 31% below |
| 200 week MA | $345.7 | 45% below |
IT's trend is mixed: it's above two of its five weekly moving averages, and 45% 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 IT on returns for 2026, with the stronger performance.
IT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $153.8 | $158.6 | +3.1% |
| 2021 | $158.6 | $325.5 | +105% |
| 2022 | $325.5 | $336.0 | +3.2% |
| 2023 | $336.0 | $451.1 | +34% |
| 2024 | $451.1 | $487.0 | +7.9% |
| 2025 | $487.0 | $252.6 | -48% |
| 2026 YTD | $252.6 | $190.8 | -24% |
IT's yearly returns have swung widely, from +105% in 2021 to −48% in 2025. It's down 24% so far in 2026.