Advanced Micro Devices Inc (AMD · NASDAQ)

AMD has crossed a $1.05T market cap with shares at $620.68, up 23.2% over the past month despite a 3.9% one-day pullback, and trading 61.9% above its 200-day average near the top of its 52-week range. Growth is the driver: revenue rose 50.1% YoY to $41.31B TTM, with the June quarter hitting $11.54B in revenue and $2.30B net income, and the company beat estimates in all four of its last quarters, including a 23% beat in the most recent print. The valuation is demanding at 165.6x earnings and 25.5x sales, though a PEG of 0.626 and an analyst target of $636.21 suggest some see the growth as justifying the price. The balance sheet is clean — $5.09B cash against $4.28B debt, a 2.61 current ratio, and $1.56B in quarterly free cash flow — leaving the stock's 2.45 beta and rich multiples as the main risk factors.