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Advanced Micro Devices, Inc.

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AMD provides microprocessors (x86-based), chipsets, discrete graphics processing units (GPUs) and professional graphics. Robust adoption of GPU’s driven by increasing adoption of AI techniques and machine learning tools in industries like gaming, automotive and blockchain bode well. Further, AMD’s collaborations with Baidu, Amazon, Tencent, Microsoft and are other positives. However, intensifying competition in the traditional PC market as well as GPU segment is a major headwind. AMD faces significant customer concentration. Hence, loss of any one of these customers will massively hurt top-line growth. Also, a highly leveraged balance sheet remains a concern.

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