Down 15% From Its All-Time High, Is Now the Time to Load Up on AMD Stock?

AMD stock has doubled in 2026 but recently pulled back 15% from its all-time high. While the company shows strong business fundamentals with 50% revenue growth and 156% EPS growth in Q2, driven by impressive 107% data center division growth, the stock's valuation has become stretched. With a trailing P/E of 124 and forward P/E of 64, much of the company's expected growth is already priced in. The analyst recommends avoiding AMD in favor of other AI stocks with better valuations.