AMD's latest Q3 results provide strong fundamental support: Data Center revenue increased 97% year over year, while Q4 revenue guidance implies approximately 27% sequential growth. Micron's HBM4 shipment ramp adds further support to the memory demand thesis. AMD Newsroom +1
Metric that would change my view: AMD's Data Center revenue growth and non-GAAP gross margin. I would become cautious if revenue growth slows materially or margins fall below the guided 55%.
The key is whether strong AI demand translates into sustainable earnings growth, rather than simply producing a technical rebound after the weekly sell-off.
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