AMD Beats Expectations: Another Boost for the AI Compute Narrative? Is It Too Late to Chase Chip Stocks?

AMD has reported its latest earnings: Q3 revenue came in at $13.38 billion, up 45% year over year, and adjusted EPS was $2.09, both ahead of market expectations. Data center revenue nearly doubled year over year to $8.5 billion, making up 64% of total revenue. CEO Lisa Su said demand for data center processors is expected to accelerate further, and the company is well positioned to meet the growing need for AI chips. AMD also guided Q4 revenue to around $17 billion, again above consensus. The outlook reinforces the durability of AI spending and may help ease the recent jitters among investors. Arm and Qualcomm are set to report after the close on Wednesday, which will put sentiment in the sector to another test. Will the heat around AI compute keep spilling over into related assets? Are you still bullish on chip stocks, and would you buy this dip? Share your thoughts in the comments. Flexibly allocate core US tech stocks and a diversified RWA portfolio on Bitget to achieve efficient cross-asset allocation and precise risk hedging: https://www.bitget.com/promotion/futures-rwa