$Advanced Micro Devices(AMD)$ The key new piece here is a read-through from Piper Sandler after AMD's September 15 Q3 pre-quiet-period call with investor relations. Analyst David O'Connor notes that AMD told the sell side that CPU and GPU ramps remain on schedule and demand continues to run well ahead of available supply. AMD's available supply is reportedly sufficient to support current guidance, with potential to exceed it.
The discussion covered Helios, Venice EPYC, HBM supply, the upcoming scale-up architecture, margins, and GPU/CPU availability. Piper's view was that the business is running essentially full steam ahead, with the programs on track and demand exceeding supply.
Piper estimates FY2026 to 2030 AMD revenue CAGR of roughly 50% and EPS CAGR of roughly 65%, reaching about $53 of 2030 earnings power.
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