AMD’s 2028 Growth Forecast Faces Valuation and Competition Concerns
AMD stock has surged about 120% in 2026, with Q2 growth rising to 50% and data center revenue up 107% year over year. Despite strong momentum, shares trade at about 120 times earnings and AMD trails faster-growing Nvidia. If AMD meets its plan for 35% annual revenue growth through 2028, a valuation closer to Nvidia’s could imply further downside from today’s price.