AMD
Advanced Micro Devices, Inc.
AMD has the edge over PI overall, supported by stronger fundamentals and lower modeled downside.
PI
Impinj, Inc.
PI'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.
PI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Weak |
PI's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is 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.
PI PE Valuation
PI 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.
PI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for PI, 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 PI on earnings quality, reporting a profit while its opponent remains loss making.
PI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.73 | — |
| Q3 2026 | -$0.31 | +$0.10 |
| Q2 2026 | -$0.90 | -2350% |
| Q1 2026 | -$0.90 | -$0.89 |
| Q4 2025 | -$0.37 | -127% |
| Q3 2025 | -$0.41 | -146% |
| Q2 2025 | $0.04 | -86% |
| Q1 2025 | -$0.01 | +$0.34 |
| Q4 2024 | $1.39 | +$3.01 |
PI is still losing money, but far less than before: $0.31 per share over the past year, against $2.49 at its worst in early 2021.
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 PI 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 PI on profitability, with a higher operating margin.
PI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.1M | +17% |
| Q2 2026 | $108.4M | +11% |
| Q1 2026 | $74.3M | 0% |
| Q4 2025 | $92.8M | +1.4% |
| Q3 2025 | $96.1M | +0.9% |
| Q2 2025 | $97.9M | -4.5% |
| Q1 2025 | $74.3M | -3.3% |
| Q4 2024 | $91.6M | +30% |
PI's revenue is growing: $112M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.1% | +3.4 points |
| Q2 2026 | 9.7% | -1.4 points |
| Q1 2026 | -20% | -7.5 points |
| Q4 2025 | -2.9% | +1 points |
| Q3 2025 | 0.7% | +1.5 points |
| Q2 2025 | 11% | +2.3 points |
| Q1 2025 | -13% | +2.4 points |
| Q4 2024 | -4% | +17 points |
PI's operating margin was 4.1% last quarter, up 3.4 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 generated $7.1B in free cash flow over the past year, up 30% from the year before.
PI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $20.6M | +15% |
| Q2 2026 | $29.2M | +6.8% |
| Q1 2026 | $2.2M | +$15.2M |
| Q4 2025 | $13.6M | +60% |
| Q3 2025 | $18M | +286% |
| Q2 2025 | $27.3M | -38% |
| Q1 2025 | -$13M | -124% |
| Q4 2024 | $8.5M | +$9.7M |
PI still generates free cash flow, though less than at its 2024 peak: $66M 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 the edge over PI 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.
PI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.6% | +490K shares |
| 1 year | +7.4% | +2.2M shares |
| 3 years | +17% | +4.6M shares |
| 5 years | +29% | +7.2M shares |
| Available history | +44% | +9.6M shares |
PI has 31M diluted shares, up 7.4% from a year ago.
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.
PI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 11.6x | High |
| Q2 2026 | 23.0x | High |
| Q1 2026 | 23.2x | High |
| Q4 2025 | 16.3x | High |
| Q3 2025 | 17.8x | High |
| Q2 2025 | 22.3x | High |
| Q1 2025 | 26.8x | High |
| Q4 2024 | 36.4x | High |
PI's net debt is about 12 years of its operating earnings (EBITDA), down from 18 years 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).
PI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.0 | Neutral |
| Stochastic | 50.4 | Neutral |
PI's weekly RSI is 55 (neutral) and its Stochastic is 50 (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.
PI PE vs Technology Sector
| Metric | PI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
PI 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 PI on trend strength, trading above more of its moving averages.
PI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $178.3 | 1.6% below |
| 20 week MA | $167.6 | 4.6% above |
| 50 week MA | $148.3 | 18% above |
| 100 week MA | $141.5 | 24% above |
| 200 week MA | $132.1 | 33% above |
PI's trend is up, with a small recent dip: it's below only its 8-week average, and 33% 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 PI on returns for 2026, with the stronger performance.
PI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $26.7 | $42.6 | +60% |
| 2021 | $42.6 | $90.2 | +112% |
| 2022 | $90.2 | $111.9 | +24% |
| 2023 | $111.9 | $90.0 | -20% |
| 2024 | $90.0 | $147.9 | +64% |
| 2025 | $147.9 | $174.0 | +18% |
| 2026 YTD | $174.0 | $175.3 | +0.8% |
PI has finished higher in five of the last six years, three of them by more than 50%. It's up 0.8% so far in 2026.