Advanced Micro Devices Inc (AMD · NASDAQ)

AMD's momentum remains strong — revenue rose 50.1% YoY to $41.31B TTM and earnings climbed 159.5%, with the company beating estimates in all four of its last quarters, including a 22.96% beat in the June quarter ($1.66 vs $1.35). The stock, however, has pulled back recently, falling 2.0% in a day and 4.1% over five sessions after a Financial Times report suggested OpenAI's annualized revenue was $20 billion below previously circulated figures; OpenAI is a key customer alongside Meta and Anthropic. Despite the dip, shares sit 57.8% above their 200-day moving average and near the top of their 52-week range, though valuation is stretched at a 155.13 P/E and 92.79 EV/EBITDA against a 15.6% profit margin. The balance sheet is clean — $5.09B cash against $4.28B debt and 0.4x debt/EBITDA — with quarterly free cash flow of $1.56B in the most recent period.