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1、CrispIdea|R E S E A R C HAdvanced Micro Devices Inc.Company NameAdvanced Micro Devices IncTickerAMD.OFY2025Q1Stock RatingBUYUnchangedIndustry ViewOverweightUnchanged12-Mo Price Target160.00UpgradedCMP(Jun 27,2025)143.81Potential Upside11%Market Cap(USD bn)210.1Shares O/S(Mn)1,621.452 Week High187.28

2、52 Week Low76.5Avg Volume(3M)44,816,835Avg Volume(10 days)59,611,588P/E(ttm)95.0P/S(ttm)7.6P/B(mrq)3.6Forward P/E27.4IBES EPS(ttm)3.66Profit Margin(TTM)7.92%Operating Margin(TTM)9.36%Revenue(TTM in Mn)27,750Revenue per Share(TTM)15.8Qtrly Rev Growth(yoy)36%Gross Profit(TTM in Mn)13,901EBITDA(TTM in

3、Mn)6,181Net Income(TTM Mn)2,227Qtrly Earnings YoY481.00%Technology Sector Research TeamDeepkumar Shah-Semiconductor,CPE&FintechResearch AShejal Ajmera,Head of RE Q U I T Y R E S E A R C H Technology|Semiconductor|Jul 04,2025Advanced Micro Devices Inc.AMD powers ahead,from data center to AI frontierW

4、e maintain our Buy rating for AMD,with an upgrade in TP from$111 to$160 for FY26.We forecast price target based on the adjusted EPS of$5.73 for FY26,with an EV/EBITDA of 13.6x and P/E of 27.93x for FY26.This TP provides an upside potential of 11%over the CMP of$143.81.We recommend a Buy rating for A

5、MD based on the following factors:1)Strong Financial Performance and Expanding Core Segments 2)AI Momentum,Product Roadmap,and Strategic Execution and 3)Near-Term Headwinds from China Restrictions,Margin Pressure,and Segment WeaknessStrong Financial Performance and Expanding Core Segments:AMD delive

6、red a record first quarter with revenue up 36%year over year to$7.4bn,beating guidance,and diluted EPS rising 55%to$0.96.Gross margin expanded to 54%,while operating income reached$1.8bn with a 24%margin.Free cash flow stood at$727mn,and the company ended the quarter with$7.3bn in cash reserves.Grow