Key Takeaways AMD delivered Q4 non-GAAP EPS of $1.53 and revenue of $10.27B, exceeding consensus estimates. AMD's Data Center revenue climbed 39.4% Y/Y to $5.38B, led by EPYC processors and MI350 GPUs. AMD guided Q1 2026 revenue of about $9.8B, implying strong Y/Y growth but a sequential decline. Advanced Micro Devices (AMD) reported fourth-quarter 2025 non-GAAP earnings of $1.53 per share, which beat the Zacks Consensus Estimate by 16.18%. The figure jumped 40.4% year over year and 27.5% sequentially. Reve ...

Stocks are kind of treading water here. The S&P is under a little bit of pressure. But again, these these pockets of pain, particularly in the tech space.We are seeing information technology as a sector sell off another one and a half%. Part of that is AMD. The stock is now down 16% sinking after earnings were better.Christina Parts Nevis joins us with more on the story. Christina, you wouldn't know it hearing Lisa Sue speak this morning. Yeah, you wouldn't.Yesterday you had uh a beating earnings expectatio ...

有分析人士指出，虽然AMD公布了超预期的营收利润表现，但市场认为，一季度指引总体略有逊色， 市场期待AMD在AI加速器上有更快的份额侵蚀与更高的短期出货量，任何相对保守的节奏都会被视 作"不及预期"。 格隆汇2月5日｜AMD股价延续跌势，跌幅扩大至近16%，创下自2018年以来最大跌幅。 消息面上，当地时间2月3日，AMD发布2025财年第四财季报告显示，AMD Q4营收超百亿美元创新 高、保持30%以上同比增速，EPS盈利增长放缓但较分析师预期高近16%，数据中心收入增至创纪录的 54亿美元，MI308芯片在华销售收入约3.9亿美元，美出口限制造成2025年约4.4亿美元的存货及相关费 用项影响；Q1营收指引中值98亿美元，略高于共识预期，但低于超过100亿美元的部分乐观预期。 ...

Group 1 - The technology sector is experiencing significant pressure, with major stocks like AMD dropping sharply due to disappointing earnings guidance, which has raised concerns about the company's progress in the AI field [2][7] - AMD's stock plummeted by 15%, while other tech stocks also faced declines, including Applovin Corporation down 13.73%, SanDisk down 11.52%, and Micron Technology down 8.88% [3][7] - The iShares Expanded Tech-Software Sector ETF saw a decline of approximately 3%, indicating ongoing investor concerns about the commercial risks associated with software companies as AI tools become more powerful [4][7] Group 2 - Analysts suggest that the market is not abandoning AI but is pricing it more cautiously, with AMD's performance being penalized for not exceeding high expectations set by previous rumors [7] - The storage sector is also facing significant declines, with SanDisk down over 11%, Western Digital nearly 10%, and Micron Technology down over 9%, while Seagate Technology has seen a drastic drop of over 65% [7] - Despite the challenges, there are positive implications for the AI supply chain, as memory and chip manufacturers will be essential for the operation of new AI tools and products [7]

【导读】科技股下跌，黄金白银跳水 大家好，今晚继续关注海内外市场的消息。科技股，黄金、白银都在跳水。 | | 分时 五日 日K 周K 月K 季K 年K 120分 60分 30分 15分 5分 1分 | | | 区间统计 全屏显示 | | | --- | --- | --- | --- | --- | --- | | 均价:209.72 最新:204.69 -37.42 -15.46% | | | | | | | 279.53 | | 15.46% | | 成交明细 | | | 270.18 | | 11.59% | 11:04 | 204.68 | રૂટ | | | | | 11:04 | 204.66 | 10 | | 260.82 | | 7.73% | 11:04 | 204.66 | 5 | | 251.47 | | 3.86% | 11:04 | 204.68 | 111 | | | | | 11:04 | 204.66 | 50 | | 242.11 | BB | 0.00% | 11:04 | 204.66 | 17 | | | | | 11:04 | 204.66 | 2 | | 232.7 ...

【导读】 科技股下跌，黄金白银跳水 中国基金报记者 泰勒 大家好，今晚继续关注海内外市场的消息。科技股，黄金、白银都在跳水。 | 换手:2.78% | | --- | | 振幅:5.56% | | 市净率:5.30 | | 市销率:11.38 | | 总市值:3340.90亿 | | 总股本:16.28亿 | | 货币单位: USD | 2月4日晚间，美股三大指数涨跌不一，道指上涨，纳指大跳水， 连续第二个交易日走弱 。 科技股普遍下跌，超威半导体（AMD）因财报表现不及预期而暴跌15%，进一步加剧了近期科技板块 的压力。这家芯片制造商的销售指引未能令投资者满意。这也被视作一个信号：公司在AI领域的推进 程度，未达到华尔街部分人士此前的预期。 | T 筛选 | 最新价 ÷ | 涨跌幅 + □ | | --- | --- | --- | | 美国超威公司 | 204.62 | -15.49% | | US AMD | | | | Applovin Corporation | 398.41 | -13.73% | | US APP | | | | 闪迪 | 615.70 | -11.52% | | US SNDK ...

来源：滚动播报 AMD股价跌幅扩大至16%，创2018年以来最大跌幅。 ...

Core Viewpoint - AMD is experiencing significant growth in both its data center and CPU businesses, with strong performance expected to continue into 2026, driven by increasing demand for AI and compute capabilities [2][4][5]. Group 1: Business Performance - AMD's data center business has shown remarkable strength, contributing to the company's overall success [2][4]. - The CPU business is described as "on fire," indicating robust demand and performance, which analysts have overlooked [5][6]. - The company anticipates a major inflection point in 2026, with new product launches expected to enhance growth [10][12]. Group 2: AI and Market Trends - There is an accelerating demand for AI capabilities from hyperscalers and enterprises, which is foundational for AMD's growth [9][15]. - The company is witnessing a surge in AI workloads, necessitating optimized compute solutions for both training and inference [12][16]. - AMD's upcoming MI450 series and Helios rack systems are positioned to capitalize on the growing AI market [13][10]. Group 3: Future Outlook - AMD's guidance for the second half of the year aligns with previous expectations, indicating confidence in continued growth [7][10]. - The company is focused on integrating AI tools with its hardware offerings to enhance product development and market responsiveness [18][19]. - There is a strong desire among customers to ramp up compute capabilities more quickly, reflecting the urgency in the market [15][16].

Core Insights - AMD's stock fell over 13% despite reporting fourth-quarter earnings that exceeded Wall Street estimates, with record revenue of $10.27 billion and adjusted earnings per share of $1.53 [1][1][1] - Analysts noted that a surprising sales boost from China may have masked weaker growth in other areas, raising concerns about AMD's overall AI sales performance [1][1][1] - The market's reaction was unexpected, as some analysts believed the results were strong enough to drive the stock higher, indicating that investors may be looking for more evidence of success from AMD's new products [1][1][1] Financial Performance - AMD reported fourth-quarter revenue of $10.27 billion, surpassing expectations [1][1] - Adjusted earnings per share were $1.53, also better than anticipated [1][1] Market Reaction - Following the earnings report, AMD shares experienced a significant drop, erasing gains for the year, although they remain up approximately 90% over the past 12 months due to strong sales and new partnerships [1][1][1] - Analysts from Morgan Stanley expressed surprise at the stock's decline, suggesting that the results should have been sufficient to boost the stock price [1][1]

Core Viewpoint - AMD's fourth-quarter performance and guidance were better than expected, but uncertainties remain, leading to a significant drop in stock price [1][2] Group 1: Financial Performance - AMD reported approximately $400 million in unexpected MI308 revenue from the Chinese market in Q4, which supported its performance [1] - The company expects only about $100 million in MI308 revenue from China in Q1, causing confusion in the market [1] - Despite a strong overall outlook, AMD's performance did not fully reflect expectations for higher sales and optimized product structure, contributing to stock sell-off [1] Group 2: Analyst Opinions - Wedbush Securities analyst Matt Bryson maintains an "outperform" rating with a target price of $290, citing the need for better performance metrics [1] - Morgan Stanley analyst Joseph Moore expressed surprise at the stock's decline post-earnings, noting that the performance numbers were solid and new product signals were positive [2] - Morgan Stanley's Moore also highlighted that AMD achieved double-digit growth in server business during a typically weak Q1, indicating strong demand [3] Group 3: Market Dynamics - AMD's CEO and CFO explained that the $400 million revenue from China was due to a license approved by the Trump administration, with orders formed in early 2025 [2] - The company is cautious about predicting additional revenue from China due to rapidly changing policy environments [2] - AMD's management emphasized that the development of MI455/Helios products is progressing smoothly, with ongoing customer testing [4]