AMD Earnings Are Here

Market Overview - The market is experiencing a pullback from all-time highs, with a decline of a couple of percentage points, which some analysts view as a healthy correction [1] - Sentiment has significantly decreased, particularly affecting speculative assets, small caps, and alt-coins, which have dropped 20-30% from recent highs, while mega-cap stocks remain stable [1] Leadership and Sentiment - There is a narrowing leadership pattern where larger, profitable companies are favored, while riskier, high-beta stocks are facing punishment [2] - A potential bounce in the market could be significant given the previously stretched sentiment [2] Company Earnings: AMD - Advanced Micro Devices (AMD) reported Q3 2025 results with a revenue increase of 36% year-over-year to $9.25 billion, and earnings per share (EPS) of $1.20, exceeding expectations [3] - The growth was primarily driven by the gaming and PC segments, which rose 73% year-over-year to $4.0 billion, while the datacenter business grew only 22% to $4.3 billion, raising concerns about the acceleration in AI and datacenter valuations [3][4] Cryptocurrency Market - Bitcoin and other crypto assets are attempting to lead a recovery, but the pullback in speculative risk assets means that the upside is not guaranteed [5] - If Bitcoin can maintain key support levels, it may renew risk appetite; however, failure to do so could lead to further declines in the broader market [5]