What this score covers. It is a fixed screen of five reported ratios with no valuation input, so a company can score highly while its valuation risk remains elevated. The full report scores valuation separately, as one of nine scored sections. How the score is calculated
Advanced Micro Devices, Inc. (AMD) is a Technology company in the Semiconductors industry. It has a 88/100 Strong Buy score on our five-factor fundamentals screen. Key strengths include Revenue Growth (50.1%), Gross Margin (55.7%), Net Margin (15.6%). The score is a five-factor screen — revenue growth, gross margin, net margin, return on equity and debt-to-equity — each scored against fixed thresholds from a neutral starting point of 50 points. The full report scores nine sections, including moat, free cash flow, dilution and valuation, which this screen does not.
This page score and the strengths and concerns above are produced by deterministic, rule-based calculations from the available third-party financial inputs documented below. AI does not choose the score, strengths, or concerns. Data and automated summaries can contain errors. This is not personalized investment advice. See our methodology and disclaimer.
Historical filing-based context — Quarter ended June 27, 2026 (Q2 2026), compared with the quarter ended June 28, 2025 (Q2 2025). This editorial context is separate from the live provider-based score above. This is dated filing-based context, not a live business update.
AMD's Form 10-Q for the quarter ended June 27, 2026 reports GAAP net revenue of $11,536 million, up from $7,685 million a year earlier. Data Center revenue was $6,718 million, up from $3,240 million; the 10-Q attributes that increase primarily to demand for AMD EPYC processors and AMD Instinct MI350 Series GPUs. Amounts are in USD millions unless stated, and “Q2 2026” means the three months ended June 27, 2026.
AMD reports three segments. Data Center covers AI accelerators, server CPUs, GPUs, data processing units (DPUs), AI network interface cards (NICs), FPGAs and adaptive SoCs. Client and Gaming covers PC CPUs, APUs and chipsets, discrete GPUs, semi-custom SoCs and development services. Embedded covers embedded CPUs, APUs, FPGAs, system-on-modules and adaptive SoCs. Source: 10-Q: Note 4 – Segment Reporting
Data Center was about 58% of Q2 2026 revenue (6,718 of 11,536), the same share AMD's chief financial officer states in the results release. Source: 10-Q: Note 4 – Segment Reporting; 8-K Ex. 99.1: AMD Reports Second Quarter 2026 Financial Results
Revenue from custom products and development services recognized over time was approximately 4% of revenue in Q2 2026, compared with 12% in Q2 2025. Revenue allocated to remaining performance obligations on contracts longer than one year was $222 million at June 27, 2026, of which $144 million is expected to be recognized in the next 12 months. Source: 10-Q: Note 3 – Supplemental Financial Statement Information
International sales, based on the billing location of customers that bought directly from AMD, were 70% of net revenue in Q2 2026 (71% in Q2 2025). Substantially all sales transactions were denominated in U.S. dollars. Source: 10-Q: Item 2 MD&A – International Sales
Each figure shows its period, unit and accounting basis. Changes are calculated by StrongBuyAnalytics from the rounded figures shown, so they can differ slightly from percentages a company reports. “pp” means percentage points; “n/m” means not meaningful because a value is zero or negative.
Revenue by segment
GAAP, USD millions. Q2 2026 = three months ended June 27, 2026; Q2 2025 = three months ended June 28, 2025.
| Measure | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Data Center GAAP | $6,718 million | $3,240 million | +107.3% |
| Client and Gaming (reportable segment) GAAP | $3,841 million | $3,621 million | +6.1% |
| of which Client GAAP | $3,062 million | $2,499 million | +22.5% |
| of which Gaming GAAP | $779 million | $1,122 million | −30.6% |
| Embedded GAAP | $977 million | $824 million | +18.6% |
| Total net revenue GAAP | $11,536 million | $7,685 million | +50.1% |
Source: 10-Q: Note 4 – Segment Reporting; 10-Q: Item 2 MD&A – Results of Continuing Operations
Operating income (loss) by segment
GAAP, USD millions. Q2 2026 = three months ended June 27, 2026; Q2 2025 = three months ended June 28, 2025. “All Other” is not a segment; it holds items AMD does not allocate to segments.
| Measure | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Data Center GAAP | $2,103 million | −$155 million | n/m |
| Client and Gaming GAAP | $582 million | $767 million | −24.1% |
| Embedded GAAP | $386 million | $275 million | +40.4% |
| All Other GAAP | −$1,081 million | −$1,021 million | n/m |
| Total operating income (loss) GAAP | $1,990 million | −$134 million | n/m |
Source: 10-Q: Note 4 – Segment Reporting
Profitability and per-share results
USD millions except per-share amounts and percentages. Q2 2026 = three months ended June 27, 2026; Q2 2025 = three months ended June 28, 2025. Non-GAAP rows follow AMD's own definitions and adjustments.
| Measure | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Gross profit GAAP | $6,203 million | $3,059 million | +102.8% |
| Gross margin (as reported, rounded) GAAP | 54% | 40% | +14 pp |
| Operating expenses GAAP | $4,213 million | $3,193 million | +31.9% |
| Net income GAAP | $2,297 million | $872 million | +163.4% |
| Diluted earnings per share GAAP | $1.38 | $0.54 | +155.6% |
| Gross margin Non-GAAP (AMD-defined) | 56% | 43% | +13 pp |
| Operating income Non-GAAP (AMD-defined) | $3,094 million | $897 million | +244.9% |
| Net income Non-GAAP (AMD-defined) | $2,760 million | $781 million | +253.4% |
| Diluted earnings per share Non-GAAP (AMD-defined) | $1.66 | $0.48 | +245.8% |
Source: 10-Q: Condensed Consolidated Statements of Operations; 8-K Ex. 99.1: GAAP Quarterly Financial Results; Non-GAAP(*) Quarterly Financial Results
Revenue rose to 11,536 from 7,685. The 10-Q says the increase was driven by Data Center demand for AMD EPYC processors and AMD Instinct MI350 Series GPUs, by Client and Gaming demand for AMD Ryzen processors, and by Embedded demand that “strengthened across end markets.” Source: 10-Q: Item 2 MD&A – Overview and Recent Developments
Client revenue rose to 3,062 from 2,499. The 10-Q attributes this primarily to a 34% increase in client processor unit shipments, partially offset by a 6% decrease in average selling price. Gaming revenue fell to 779 from 1,122, which the 10-Q attributes primarily to lower semi-custom revenue. Source: 10-Q: Item 2 MD&A – Results of Continuing Operations
Gross margin was 54% against 40%. The 10-Q attributes the increase primarily to the absence of inventory and related charges tied to the U.S. export control on AMD Instinct MI308 GPUs recorded in the prior-year quarter, plus a favorable product mix. The results release states the prior-year quarter included $800 million of those charges. Source: 10-Q: Item 2 MD&A – Gross Margin; 8-K Ex. 99.1: GAAP Quarterly Financial Results
Data Center operating income was 2,103 against a loss of 155. “All Other” was a loss of 1,081 against 1,021, including amortization of acquisition-related intangibles (544 against 568) and stock-based compensation (503 against 369). Source: 10-Q: Note 4 – Segment Reporting; 8-K Ex. 99.1: RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Net income was 2,297 against 872. The 10-Q attributes the increase primarily to higher operating income. AMD's non-GAAP reconciliation removes a 483 gain on long-term investments in Q2 2026 (61 in Q2 2025), and shows that Q2 2025 GAAP net income included an 853 release of reserves for uncertain tax positions, which AMD also excludes from non-GAAP results. Other income, net was 598 against 98. Source: 10-Q: Item 2 MD&A – Overview and Recent Developments; 8-K Ex. 99.1: RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Cash, cash equivalents and short-term investments were $13.1 billion at June 27, 2026 and $10.6 billion at December 27, 2025. Debt principal was $3,250 million at both dates. AMD had $5.0 billion available under a revolving credit facility and a $5.5 billion commercial paper program, with no commercial paper or revolver amounts outstanding. Source: 10-Q: Item 2 MD&A – Liquidity and Capital Resources; 10-Q: Note 9 – Debt, Revolving Credit Facility and Commercial Paper Program
Unconditional commitments were $30,276 million in total at June 27, 2026, of which $17,386 million falls in the remainder of fiscal 2026. The 10-Q says they relate primarily to wafers, substrates and components from third parties, multi-year cloud service arrangements, and certain software and technology licenses. Source: 10-Q: Note 10 – Commitments and Contingencies; 10-Q: Item 2 MD&A – Liquidity and Capital Resources
Leases that had commenced were about $1.2 billion and leases not yet commenced were $4.5 billion. Data center lease guarantees had a maximum potential future payment of $4.1 billion. After the quarter ended, AMD entered long-term data center leases with aggregate future payments of $9.5 billion over terms of up to 16 years expected to start in 2027 and 2028, and investment commitments of up to $5.0 billion, subject to conditions, expected to be made through fiscal 2028. Source: 10-Q: Item 2 MD&A – Liquidity and Capital Resources
AMD issued warrants to OpenAI (October 2025) and Meta (February 2026), each for up to 160 million shares at $0.01 per share. They vest in tranches tied to purchases of AMD Instinct GPUs and stock-price targets, and are classified as liabilities until equity-classification conditions are met. As of June 27, 2026 no warrant shares had vested or become exercisable. The 10-Q says each customer intends to deploy up to 6 gigawatts of AMD data center GPUs. Source: 10-Q: Note 12 – Common Stock and Stock-based Compensation; 10-Q: Item 2 MD&A – Overview and Recent Developments
In the six months ended June 27, 2026 AMD repurchased $221 million of common stock (compared with $1,227 million in the prior-year six months) and a further $341 million for tax withholding on employee equity plans. Source: 10-Q: Condensed Consolidated Statements of Cash Flows; 10-Q: Item 2 MD&A – Liquidity and Capital Resources
Competition. The 10-Q says competition is expected to remain intense. It says Intel uses its microprocessor market position to price aggressively and target AMD's customers and channel partners with special incentives, and that Nvidia leverages its data center GPU position, financial resources and proprietary software ecosystem to influence customers. It also cites Arm-based architectures, customers building their own AI products, and a partnership and investment announced by Nvidia in Intel in September 2025. Source: 10-Q: Part II, Item 1A – Risk Factors
Export licenses. The 10-Q describes an April 2025 U.S. license requirement for exports of certain products, including AMD Instinct MI308, to China and D5 countries. AMD says it was granted some licenses and began shipping at the end of fiscal 2025, and that sales into China depend on customer demand, China's import control rules and its ability to obtain licenses. For MI325, AMD says it received some licenses in February 2026, does not yet know whether China will allow imports, and that shipments under the licenses first go through a U.S. inspection process that carries a 25% tariff. Source: 10-Q: Part II, Item 1A – Risk Factors
Customers. The 10-Q says AMD depends on a small number of customers for a substantial portion of its business and expects that to continue. Source: 10-Q: Part II, Item 1A – Risk Factors
Manufacturing and supply. The 10-Q says third-party foundries fabricate all of AMD's wafers: TSMC for microprocessor and GPU products at 7 nm or smaller and primarily GF for larger nodes. It also cites a limited number of suppliers for IC packages and for components such as memory, and an industry-wide memory shortage. Source: 10-Q: Part II, Item 1A – Risk Factors
Every figure above comes from the documents below, filed with the U.S. Securities and Exchange Commission (SEC). Accession numbers identify each filing.
0000002488-26-000123.
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0000002488-26-000121.
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Later filings, listed by identifier only. These were filed after the documents above and are not summarized on this page.
0001193125-26-354029.
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0000002488-26-000163.
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0000002488-26-000182.
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Filings this page did not read. They exist, but their text was not used for the analysis above.
0000002488-26-000018.
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The calculation starts at 50 points and applies the five fixed adjustments shown below. Missing or invalid inputs contribute no adjustment. A finite provider-reported zero is treated as a measured value and evaluated against that input's displayed threshold. The pre-clamp result is 88; the published result is clamped to a minimum of 10 and maximum of 98, producing 88/100.
| Input | Displayed value | Threshold applied | Adjustment | Data status |
|---|---|---|---|---|
| Revenue Growth | 50.1% | > 20% | +12 | Available |
| Gross Margin | 55.7% | > 50% | +10 | Available |
| Net Margin | 15.6% | > 10% to 20% | +6 | Available |
| Return on Equity | 10.2% | > 0% to 12% | +2 | Available |
| Debt/Equity | 0.06 | < 0.30 | +8 | Available |
80 or higher: Strong Buy; 65–79: Buy; 50–64: Hold; below 50: Caution.
These are fixed names for score ranges. The score is not a success probability, recommendation, or forecast, and 80/100 does not mean an 80% chance of a gain.
This page was generated . The provider identifies the latest underlying financial period as June 27, 2026. The displayed market quote is dated October 15, 2026. Generation time is not the same as the date of the underlying filing or market observation.
Financial inputs may be delayed, restated, differently standardized by the data provider, or unavailable. Missing, invalid, or non-finite values receive no positive or negative adjustment rather than being estimated. A finite provider-reported zero is retained and evaluated against that metric's displayed threshold; it is not treated as missing. This can make a sparse-data score less informative. The screen does not capture every business, market, valuation, or portfolio risk, and investors can lose money.
Review filings at SEC EDGAR and read our data sources, score guide, methodology, AI disclosure, and corrections policy.
The 88/100 on this page comes from a fixed screen of 5 ratios. The downloadable report is a separate analysis with its own score, built from 9 weighted sections.
Each factor is scored against fixed thresholds from a starting point of 50 points. No factor prices the stock, so valuation is not part of the 88/100.
When the inputs allow, the report also shows a fair-value estimate with its discounted cash flow (DCF) assumptions and a 3×3 sensitivity table, a confidence figure, and the data limitations that reduced that confidence. Its headline label can add a valuation-risk flag next to the fundamental-quality rating.
4 data points drawn from analyst targets, consensus estimates, and ownership data. These are supplementary observations, not event predictions or causal explanations:
Compared against other Semiconductors companies we cover, picked for having a similar market capitalisation to AMD.
Comparison context only: this peer set is selected statically from our covered companies using industry and company-size context. Peer data and peer selection do not change the AMD page score.
2 measurable indicators visible in Advanced Micro Devices, Inc.'s reported numbers. These are market and valuation risk metrics — not a comprehensive list of business risks, which would require qualitative analysis beyond this data:
Advanced Micro Devices, Inc.'s liquidity and cash generation as of the most recent filing — note the cash position of $13.11B against $4.28B of debt:
These are provider-normalized figures and may differ from the issuer's as-filed presentation, units, or latest amendment. Use source filings for verification.
Institutional investment managers with >$100 M in qualifying assets must disclose their equity positions quarterly on SEC Form 13F — typically within 45 days of quarter-end. Search those filings below to see which hedge funds, mutual funds, and asset managers reported AMD as a holding, how many shares they held, and how positions changed quarter over quarter.
AMD rates 88/100 on our five-factor fundamentals screen, which puts it in the "Strong Buy" band. The band name describes a fixed range in this model; it is not a recommendation or prediction. The calculation above shows how each reported input affected the result.
Advanced Micro Devices, Inc. clears our thresholds on most of what we measure. The strongest readings are revenue growth (50.1%) and gross margin (55.7%). Nothing in the data we score currently works against it.
Advanced Micro Devices, Inc. reported revenue growth of 50.1% year over year, against a Semiconductors peer set where scale and pricing power vary widely. Growth at that level is the single largest positive contributor to the AMD score.
Earnings grew 159.5% over the same period, outpacing revenue — a sign of operating leverage.
Track upcoming report dates on our earnings calendar.
This is a review of reported fundamentals, not a price target or an estimate of future returns. These are the current figures that may be useful to monitor as new filings become available.
Current reading: Revenue growth of 50.1% is above the model's 10% threshold. Net margins of 15.6% show how much reported revenue currently converts to profit. Future filings may change either figure and the resulting score.
These are the Advanced Micro Devices, Inc. figures that push the score up, taken straight from the most recent reported financials:
See how the metrics on this AMD page — quality score, valuation, DCF scenarios, confidence labels, and data limitations — are organized in the downloadable research report.
Generate My Free AMD ReportGuides to the specific measures used in this AMD analysis:
How the financial statements behind this page fit together.
Understanding P/E RatioWhat AMD's 143.4x multiple does and does not tell you.
Return on Equity (ROE)Why AMD's 10.2% return on equity matters for stock selection.
Stock Valuation MethodsHow DCF, multiples and asset-based approaches value a company like Advanced Micro Devices, Inc..
DCF Assumptions and LimitationsWhat a discounted cash flow estimate for AMD depends on, and where it breaks down.
How to Read an AI Stock ReportWhat each section of a AMD report is for, and what it leaves out.
How to Read Earnings ReportsWhere the AMD growth and margin figures on this page come from.
What Are Demand Zones?The technical side we deliberately keep out of the AMD score.
Latest SEC filings for AMD explained in plain English — insider buys/sells (Form 4), proposed sales (Form 144), material events (8-K), and quarterly & annual reports.