<div id="readability-page-1">Money Markets What Is Happening With AMD Stock?  ByTrefis Team ,  Contributor.  Forbes contributors publish independent expert analyses and insights. Building a platform to do the job of 1 million analysts for  Great Speculations Follow Author Dec 04, 2025, 01:36pm EST Share Save Comment  Lisa Su, chairwoman and CEO of Advanced Micro Devices (AMD), delivers the opening keynote speech at Computex 2024, Taiwan's premier tech expo, in Taipei on June 3, 2024. (Photo by I-Hwa CHENG / AFP) (Photo by I-HWA CHENG/AFP via Getty Images) AFP via Getty Images Advanced Micro Devices (AMD) has been on an extraordinary run lately, with shares soaring 116%, in the past nine months, as enthusiasm around AI hardware continues to reshape the semiconductor landscape. Revenue is climbing, margins are rebounding sharply, and demand for AI GPUs is powering renewed optimism around the company’s long-term prospects. But behind the headline surge lies a more complex story—one influenced not only by AI momentum and strong earnings, but also by export challenges and rising valuation concerns.  Below is a detailed analysis of stock movements based on essential contributing metrics.  metrics1 Trefis What is occurring here? The stock surged 116%, propelled by a 24% increase in revenue, a significant 62% improvement in margins, and a 7.5% uptick in valuation. Now, let’s investigate the events leading to these gains.  Here Is Why Advanced Micro Devices Stock Moved  AI GPU Momentum: Strong demand for Instinct MI300/MI350 series GPUs and strategic partnerships propelled AI growth.  Data Center Growth: Solid revenue growth in the data center sector, driven by EPYC CPUs and AI accelerators.  PC Market Recovery: The client segment witnessed robust Ryzen sales and expected momentum from AI PCs.  Strong Earnings: Consistent outperformance on revenue and EPS forecasts in Q1, Q2, and Q3 2025.  Export Restrictions: U.S. export regulations on MI308 GPUs to China adversely affected data center revenue.  Our Current Assessment Of AMD Stock  Opinion: At present, we consider AMD stock to be relatively overpriced. Why is that? Take a look at the complete story. Read Buy or Sell AMD Stock to understand the reasons behind our current perspective.  MORE FOR YOU Risk: A useful way to assess AMD’s risk is to examine the depth of its declines during past market crises. The stock fell over 83% during the Dot-Com Bubble and nearly 91% in the Global Financial Crisis. Moreover, the inflation wave in 2022 plummeted it more than 65%. Smaller sell-offs such as the 2018 correction and the Covid pandemic still resulted in declines of around 49% and 34%, respectively. Strong fundamentals are important, but when markets take a severe downturn, AMD has demonstrated its capacity to sustain significant losses.  Although AMD stock has recently experienced substantial gains, investing in a single stock without comprehensive, thorough analysis carries inherent risks. The Trefis High Quality (HQ) Portfolio , featuring a selection of 30 stocks, has a history of easily outperforming its benchmark, which includes all three—the S&amp;P 500, S&amp;P mid-cap, and Russell 2000 indices. What accounts for this? Collectively, HQ Portfolio stocks have yielded better returns with lower risk compared to the benchmark index; less volatility, as seen in HQ Portfolio performance metrics .  Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

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<p>AMD stock has surged 116% in the past nine months due to strong demand for AI GPUs, data center growth, and PC market recovery. Despite strong earnings and revenue growth, export restrictions and valuation concerns pose challenges. The stock is considered overpriced, with historical risks highlighted. The Trefis HQ Portfolio suggests diversified investment for better returns with lower risk.</p>

- Advanced Micro Devices (AMD) stock has surged 116% in the past nine months, driven by strong demand for AI GPUs and significant revenue growth.  
- Despite this, challenges such as U.S. export restrictions and rising valuation concerns complicate the outlook for the company.  
- Analysts currently view AMD stock as relatively overpriced, highlighting the risks associated with investing in a single stock without thorough analysis.