AMD
Advanced Micro Devices, Inc.
AMD has the edge over KEYS overall, supported by stronger valuation and stronger fundamentals.
KEYS
Keysight Technologies, Inc.
KEYS has lower modeled downside risk, despite its lower overall score.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
KEYS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
KEYS's revenue, profitability, cash flow and balance sheet are all currently strong.
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.
KEYS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $304 | — |
| Cheap | 26x | $192 | -37% |
| Fair | 32x | $235 | -23% |
| Current | 42x | $304 | — |
| Expensive | 46x | $339 | +11% |
Historical ranges are pointers, not guarantees.
KEYS 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 |
Analysts expect strong earnings and revenue growth for AMD, with profitability improving. However, they disagree widely on these estimates.
KEYS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for KEYS, 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 KEYS on earnings, with more consistent year-over-year improvement.
KEYS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +89% |
| Q3 2026 | $7.30 | +132% |
| Q2 2026 | $6.10 | +43% |
| Q1 2026 | $5.57 | +59% |
| Q4 2025 | $4.91 | +40% |
| Q3 2025 | $3.15 | -39% |
| Q2 2025 | $4.27 | -6.8% |
| Q1 2025 | $3.50 | -36% |
| Q4 2024 | $3.51 | -41% |
KEYS earned $7.30 per share over the past year, up 132% 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 KEYS 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's operating margin was 21% last quarter, up 7.4 points from the same quarter a year ago.
KEYS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.8B | +37% |
| Q2 2026 | $1.7B | +31% |
| Q1 2026 | $1.6B | +23% |
| Q4 2025 | $1.4B | +10% |
| Q3 2025 | $1.4B | +11% |
| Q2 2025 | $1.3B | +7.4% |
| Q1 2025 | $1.3B | +3.1% |
| Q4 2024 | $1.3B | -1.8% |
KEYS's revenue has grown year over year for seven quarters in a row: $1.8B last quarter, up 37% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +7.7 points |
| Q2 2026 | 24% | +7.8 points |
| Q1 2026 | 16% | -1.3 points |
| Q4 2025 | 15% | -2.6 points |
| Q3 2025 | 17% | +0.5 points |
| Q2 2025 | 16% | +1.3 points |
| Q1 2025 | 17% | -0.8 points |
| Q4 2024 | 18% | -6.3 points |
KEYS has the edge over AMD on profitability, with a higher operating margin.
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 KEYS on cash flow, with stronger typical year-over-year growth.
KEYS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $403M | +38% |
| Q2 2026 | $472M | +3.3% |
| Q1 2026 | $407M | +18% |
| Q4 2025 | $187M | -42% |
| Q3 2025 | $291M | +31% |
| Q2 2025 | $457M | +518% |
| Q1 2025 | $346M | +23% |
| Q4 2024 | $321M | -5.6% |
KEYS's free cash flow has been positive every quarter for seven years: $1.5B over the past year, up 3.8% 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.
KEYS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | -3.4% | -6M shares |
| 5 years | -7% | -13M shares |
| Available history | -9.4% | -18M shares |
KEYS has the edge over AMD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $210M |
| Q2 2026 | $220M |
| Q1 2026 | $87M |
| Q4 2025 | $100M |
| Q3 2025 | $50M |
| Q2 2025 | $150M |
| Q1 2025 | $75M |
| Q4 2024 | $150M |
KEYS spent $617M buying back its own shares over the past year, up 45% 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.
KEYS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | -0.0x | Net Cash |
KEYS 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).
KEYS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.5 | Neutral |
| Stochastic | 20.0 | Neutral |
KEYS's weekly RSI is 46 (neutral) and its Stochastic is 20 (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.
KEYS PE vs Technology Sector
| Metric | KEYS | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 28x | 50% above |
| PE % | 71 | 35 | 36 pts above |
KEYS 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 KEYS on trend strength, trading above more of its moving averages.
KEYS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $332.4 | 8.5% below |
| 20 week MA | $329.2 | 7.6% below |
| 50 week MA | $300.2 | 1.3% above |
| 100 week MA | $232.0 | 31% above |
| 200 week MA | $191.4 | 59% above |
KEYS has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 59% 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 KEYS on returns for 2026, with the stronger performance.
KEYS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $103.2 | $131.0 | +27% |
| 2021 | $131.0 | $201.4 | +54% |
| 2022 | $201.4 | $169.8 | -16% |
| 2023 | $169.8 | $159.1 | -6.3% |
| 2024 | $159.1 | $162.9 | +2.4% |
| 2025 | $162.9 | $206.0 | +26% |
| 2026 YTD | $206.0 | $304.2 | +48% |
KEYS has finished higher in four of the last six years. It's up 48% so far in 2026.