AMD Post Earnings: Taking A Victory Lap = Sell The AI Hype Story (Downgrade)

Advanced Micro Devices, Inc. reported Q2 '25 beat and guided better than expected, but the market is having trouble digesting the news. After a 75% intra-quarter run-up, the stock is exhausted, and the AI story that's built back up is slowly going to get put to the test. We see minimal upside and a lot more pressure, as we don't think the AI growth story will hold up as much as the market is hoping.