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Tuesday, November 3, 2026

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AMD Earnings Review

AMD reported $13.4 billion in Q3 revenue, with Data Center sales up 97% to $8.5 billion, and guided Q4 revenue to $17 billion.

AMD $660B
Cestrian Capital Research 3 clicks

From X

@HaydenCapital 1 click

Fred Liu on X

Loved this interview with Adam at Applovin $APP. Insight into his strategic thinking + the story of building a $100BN firm with almost 0 funding (just $4M total). And his decision of buying back ~25% of shares at rock-bottom prices, contributing to their massive stock performance since 2023. ** My favorite quotes: "We went public in April 21. And if I remember right, by December lockups free from January 22 to December 22, I think our stock went down like 92%. Um, it was red every day. And so that it ends up setting you up for failure. Now we were really fortunate because of how we started. We were always cashflow positive. So I controlled our own destiny. We were generating, I think it was a billion dollars of EBITDA. And at the low point, I think we got to a market cap of $4 billion. And so if you think about like cash yield return, it's over 20%. It's really cheap. You could manage and buy out a company at that level with just debt. And so what we did at the low point was we buckled down, said, we've all been here a long time. Let's build really great products. That's how we're going to recover. no one's going to buy our stock at this point. There's no narrative to sell. Everyone's gone. So let's buy our own shares. And we ended up issuing a lot of stock to the team, putting in a performance equity plan, and then becoming the biggest buyer of our own shares over the next year. And so we went from bottom $9 to peak $522 years later. A large part of that, I would say, probably 20-25% of that appreciation was because we bought back 20-25% of the cap table at very low prices because we could." ** And he refuses to speak to the Pods: "And then you realize I also want to recruit investors who believe in what I'm building over time, not who are betting on the stock for a quarter. And so I ended up changing investor relations and I don't take meetings with anyone who's who's focused on what's happening next quarter in a business as robust as ours. What's happening next quarter is defined by things we did a year ago. What's happening in three to five years is what I'm focused on. And so I only spend time with people who want to align with my vision long term. And that creates a much more engaging perspective on the world and got me to start thinking about the business exactly the same way as I did when we were private. And I still operate it today that way."

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Stevanato down 30%. Yikes.

Stevanato fell 30% after forecasting low-single-digit 2027 growth as lower Nexa syringe volumes from a GLP-1 customer offset solid Q3…

STVN $3.6B
Best Anchor Stocks 3 clicks
BSP · short

Bending Spoons Spa

Bending Spoons is a software and digital-assets holding company that has completed more than 50 acquisitions since 2013.

BSP $29B
Value Investors Club 1 click

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