AMD(US:AMD) 美股IPO·2026-02-04 01:02Core Viewpoint - AMD's fourth-quarter earnings report disappointed the market, indicating that its progress in the AI sector has not met some investors' optimistic expectations [1] Financial Performance - AMD's Q4 sales increased by 34% to $10.3 billion, surpassing the average expectation of $9.7 billion [3] - Adjusted earnings per share were $1.53, exceeding the analyst average estimate of $1.32 [3] - The company's first-quarter sales forecast is approximately $9.8 billion, with a fluctuation of $300 million, while analysts had an average estimate of $9.39 billion [3] Segment Performance - Data center revenue grew by 39% to $5.38 billion, exceeding the analyst average prediction of $4.97 billion [3] - PC-related sales rose by 34% to $3.1 billion, also above the average expectation of $2.89 billion [3] - Gaming revenue increased by 50% to $843 million, although it fell short of the market average expectation of $855 million [4] - Embedded business revenue grew by 2.9% to $950 million, below the market average expectation of $961 million [4] Market Dynamics - AMD has begun selling an older model chip to China, generating $390 million in revenue last quarter, with an expected $100 million this quarter [6] - The company anticipates that large deals with OpenAI and Oracle, along with overall demand for AI devices, could bring in hundreds of billions in new revenue [6] - AMD is seen as continuing to gain market share from Intel, which recently provided a disappointing forecast regarding supply constraints [7]