AMD's revenue guidance aligned with expectations, and while areas beyond Data Center are no longer seen as headwinds, this may lead to a mild sense of disappointment among investors. Nevertheless, the overarching narrative appears to remain intact. In the short term, the stock might experience limited price movement, and there is a concern that the year 2025 could represent a transitional phase for the company's AI narrative.

AMD reported satisfactory results, although guidance fell short of the consensus, influenced by reduced gaming margins. It's expected that the MI300 will have a dilutive effect on margins for a period, potentially impacting the stock's valuation multiple.

While the recent financial results were largely aligned with consensus and expectations, the post-earnings sell-off was somewhat unexpected. Looking ahead, the upcoming years are viewed as a period of investment, particularly in the AI sector. There is an opinion that some of the revenue and earnings forecasts may still be overly optimistic.

Near-term robustness in Client juxtaposes with a forecast for a more than seasonal first quarter, resulting in a slight moderation of the sales outlook for 2025. The MI300 consistently meets all expectations, but in the absence of specific guidance for the long term and with figures adjusting, the stock currently appears somewhat static.

AMD experienced a decrease of 8% in aftermarket trading subsequent to the announcement of its September quarter results, which met expectations, and a forecast for the December quarter that fell short by 10% regarding EPS. However, the perspective remains positive, with the belief that the company is steadily increasing its presence as a prominent supplier of merchant accelerator solutions.