AMD
Advanced Micro Devices, Inc.
AMD has the edge over TSEM overall, supported by stronger valuation and stronger fundamentals.
TSEM
Tower Semiconductor Ltd.
TSEM 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.
TSEM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
TSEM's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 has the edge over TSEM in the historical PE scenario, which offers more potential upside but is not a forecast.
TSEM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $27.61 | -83% |
| Forward | 25x | $158 | — |
| Fair | 26x | $66.20 | -58% |
| Expensive | 42x | $106 | -33% |
| Current | 62x | $158 | — |
Historical ranges are pointers, not guarantees.
TSEM's PE is in its expensive range at 62x. If earnings grow as analysts expect, today's price would be 25x next year's earnings, in its fair range.
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.
TSEM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for TSEM, with profitability improving. 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 TSEM on earnings, with more consistent year-over-year improvement.
TSEM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.34 | +151% |
| Q2 2026 | $2.53 | +45% |
| Q1 2026 | $2.15 | +19% |
| Q4 2025 | $1.93 | +3.8% |
| Q3 2025 | $1.72 | -7% |
| Q2 2025 | $1.74 | -61% |
| Q1 2025 | $1.81 | -59% |
| Q4 2024 | $1.86 | -60% |
| Q3 2024 | $1.85 | -62% |
TSEM's earnings per share have fallen from their peak: $2.53 over the past year, against $4.92 in late 2023.
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 TSEM on sales, with stronger typical year-over-year growth.
| 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 TSEM on profitability, with a higher operating margin.
TSEM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $460.1M | +24% |
| Q1 2026 | $413.6M | +15% |
| Q4 2025 | $440.2M | +14% |
| Q3 2025 | $395.7M | +6.8% |
| Q2 2025 | $372.1M | +5.9% |
| Q1 2025 | $358.2M | +9.5% |
| Q4 2024 | $387.2M | +10% |
| Q3 2024 | $370.5M | +3.4% |
TSEM's revenue has grown year over year for eight quarters in a row: $460M last quarter, up 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 20% | +8.9 points |
| Q1 2026 | 16% | +6.4 points |
| Q4 2025 | 16% | +4.1 points |
| Q3 2025 | 13% | -2.3 points |
| Q2 2025 | 11% | -5 points |
| Q1 2025 | 9.2% | -1.2 points |
| Q4 2024 | 12% | -0.8 points |
| Q3 2024 | 15% | -86 points |
TSEM's operating margin was 20% last quarter, up 8.9 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 TSEM on cash flow, with more consistent year-over-year improvement.
TSEM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$9.6M | -181% |
| Q1 2026 | $353.6M | +$371.1M |
| Q4 2025 | -$75.3M | -2680% |
| Q3 2025 | $35.9M | +$38.8M |
| Q2 2025 | $11.9M | +2436% |
| Q1 2025 | -$17.5M | -245% |
| Q4 2024 | $2.9M | +$25.6M |
| Q3 2024 | -$2.9M | -101% |
TSEM's free cash flow has turned positive again: $305M over the past year, against −$6M 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.
TSEM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +85K shares |
| 1 year | +1% | +1.1M shares |
| 3 years | +2.9% | +3.2M shares |
| 5 years | +4.4% | +4.8M shares |
| Available history | +6.3% | +6.8M shares |
TSEM has the edge over AMD on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
TSEM hasn't bought back shares in the past year.
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.
TSEM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
| Q3 2024 | -0.1x | Net Cash |
TSEM 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).
TSEM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.7 | Neutral |
| Stochastic | 9.7 | Oversold |
TSEM's weekly RSI is 41 (neutral) and its Stochastic is 10 (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.
TSEM PE vs Technology Sector
| Metric | TSEM | Sector median | Relative |
|---|---|---|---|
| PE | 62x | 28x | 124% above |
| PE % | 87 | 35 | 52 pts above |
TSEM 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 TSEM on trend strength, trading above more of its moving averages.
TSEM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $190.6 | 17% below |
| 20 week MA | $213.0 | 26% below |
| 50 week MA | $191.3 | 17% below |
| 100 week MA | $122.3 | 29% above |
| 200 week MA | $79.4 | 99% above |
TSEM has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 99% 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 TSEM on returns for 2026, with the stronger performance.
TSEM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.3 | $25.4 | +4.7% |
| 2021 | $25.4 | $38.4 | +51% |
| 2022 | $38.4 | $43.9 | +14% |
| 2023 | $43.9 | $30.5 | -31% |
| 2024 | $30.5 | $52.1 | +71% |
| 2025 | $52.1 | $121.6 | +134% |
| 2026 YTD | $121.6 | $157.9 | +30% |
TSEM has finished higher in five of the last six years, three of them by more than 50%. It's up 30% so far in 2026.