AMD Upgraded to Cautious Buy After Record Data-Center Beat

On May 28 an analyst upgraded AMD to cautious Buy following robust Q1 results that featured record data-center revenue. The company posted $10.25 billion in quarterly revenue, up 37.8% YoY, with data-center sales surging 57% to $5.8 billion, fueled by EPYC, Instinct AI accelerators and hyperscaler deals. This follows a May 26 comparison showing AMD’s 11,031% ten-year return dwarfing Micron’s 6,603%, underscoring AMD’s AI-driven turnaround under Lisa Su. Despite a 67x forward P/E and a 100% stock rally since the prior neutral call, sustained AI momentum and margin expansion now justify the premium valuation.