The author argues that AMD's stock already prices in much of its expected growth, even though data center revenue rose 107% year over year in Q2. Shares trade at 136 times trailing earnings and 33.5 times next year's earnings, compared with 27 times for Nvidia. The author expects the stock to stay roughly flat for about a year or more while business results catch up. He suggests investors with large gains may consider selling, and that now is probably not the best time for new buyers.
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