AMD/Intel New High Again! CPU & Memory Surges: Which Side Do You Pick?
@Tiger_comments：
$Advanced Micro Devices(AMD)$ surged +16.5% after-hours to above $400. $INTC$ jumped +17.6% yesterday. Same week: $SanDisk Corp.(SNDK)$ printed 78.4% gross margins, and $Micron Technology(MU)$ 's CEO called memory a "strategic asset for AI." Two AI infrastructure plays are flying simultaneously — CPUs and memory. Which one runs further? 1. CPU Story: Demand Is Structurally Shifting AI has moved from training to inference + agentic AI. That shift benefits more than just GPUs. $AMD$ Q1 Data Center: $5.8B (+48% YoY). Q2 guidance: $11.2B revenue (+46% YoY). Lisa Su was explicit: inference and agentic AI demand for high-performance CPUs and accelerators is "accelerating." EPYC keeps taking share. MI455X ramp starts in 2H. $Intel(INTC)$ CEO Lip-Bu Tan on his call: AI is moving from foundation models to agents and inference — data center CPU demand is surging. INTC +17.6% in a single day, up +69% from its $67 low. 2. Memory Story: Supply Constraints Are Harder to Fix Than Algorithms $MU$ CEO Sanjay Mehrotra: memory has become a "strategic asset for unlocking AI's potential." DRAM supply/demand gap is currently 10% and widening: - Intel's new AI CPUs carry 400GB of general DRAM (4x standard) - Samsung on its call: customers are already pre-booking 2027 capacity, and the 2027 gap looks larger than 2026 - Meaningful new supply: earliest relief is 2028 $SanDisk Corp.(SNDK)$ this quarter: revenue +217% YoY, gross margin 78.4%, Q2 guided at 80%. wdc Q2 EPS guidance +17% above Street. Which Side Are You On? What do you think AMD's fair value is in the inference AI era? CPU or memory — bigger upside from here? Or is it effectively the same trade: more AI capex = both go up? Leave your comments to win tiger coins~
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