💻 Street Takeaways - $AMD Advanced Micro Devices Q3 Earnings ($506.59 +$22.69) Overview: • Shares are trading +4.2% following EPS beating consensus by +7.2%/$0.14. Revenue came in +2.1% higher, as DC and Embedded beat by +3.6% and 2.8%, while Client missed by (4.2%), and Gaming beat by +16%. Gross margin missed consensus by (10bps), while opex was (2.7%) light, driving operating margin +130bps higher. Capex was (2%) below expectations, with FCF (30.1%) light. • Management guided Q4 revenue +4.4% above consensus, with a gross margin (30bps) light, and opex (6.5%) below. CY27 revenue growth was guided >80% y/y, with CPU >100% vs 70% prior, and DCAI growth now materially >100%. Notably, management expects CY27 opex to grow at less than half the pace of revenue. • Analyst commentary skewed positive, as strong results/guidance coincided with constructive 2027 commentary. Some pointed out that the solid results follow incremental weakness from INTC, and argued the beat/raise was likely a surprise. Most expect that DC strength is able to offset weakness from Client/Gaming, and noted that the Co expects to outperform the anticipated DD% CY27 industry decline (10% from INTC). CY27 color was a highlight, as growth expectations moved largely higher and coincided with durable GM commentary, and expectations for muted opex vs top-line growth, implying added O/L and margin expansion. Overall, analysts were incrementally positive, while some continue to see risks from component supply, DC readiness, and competition, and view the risk/reward as balanced given the premium to peers. $AMD #AdvancedMicro# #Earnings# #AI# #Semiconductors# #DataCenter# #AI# #AIChips# #MarginExpansion# #FinTwit# #ChipStocks# #TechEarnings# #Tech# Gain immediate access to earnings insights with #StreetAccount#: