AMD暴跌近16%，创2018年以来最大跌幅

Core Viewpoint - AMD's stock price continues to decline, with a drop of nearly 16%, marking the largest decline since 2018 [1] Financial Performance - AMD reported Q4 revenue exceeding $10 billion, achieving over 30% year-on-year growth [1] - EPS growth has slowed but exceeded analyst expectations by nearly 16% [1] - Data center revenue reached a record $5.4 billion [1] - Revenue from MI308 chip sales in China was approximately $390 million [1] - Export restrictions are expected to impact 2025 with around $440 million in inventory and related costs [1] Guidance and Market Expectations - Q1 revenue guidance midpoint is $9.8 billion, slightly above consensus expectations but below the optimistic forecast of over $10 billion [1] - Analysts note that despite exceeding revenue and profit expectations, the overall Q1 guidance is perceived as slightly disappointing [1] - The market anticipates faster market share gains and higher short-term shipments in AI accelerators, with any conservative pace viewed as "below expectations" [1]