AMD Reaches a $1 Trillion Market Cap. Can It Finally Dethrone Nvidia?

AMD has reached a $1 trillion market cap with a 200% gain this year, but the article argues the stock is overvalued relative to its fundamentals. While AMD is growing strongly in data centers (107% YoY), Nvidia is still larger and growing faster (117% YoY). AMD trades at 158x trailing earnings versus Nvidia's 30x, suggesting AMD stock could face 25% downside while Nvidia could double if valuations normalize.