Definitely not a strong signal with AMDs share price movement, I am not going to deny that. The question is: What is priced in, what are the expectations for the coming quarter and those following? Not that AMD had a good track record in the past. It is always impossible to say what exact scenario the "market" is pricing in and what the time scope is. Fact is: AMD had a very strong run up, the quarterly wasn't particularly strong and many traders cashed in. The Outlook at least suggests that AMD will be at the cross to profitability by next quarter, which already is a strong positive for AMD. It gives AMD air to breathe and in case Ryzen, Naples and what follows will flush some money into AMDs pockets, I have no doubt that, with its obviously decent management and good team of core developers, it has a shot at winning significant market share from Intel in the longer term, especially with the burden of running its own fabs gone and ever stronger foundries in the back. I still see Ryzen as a very strong proof for what substance is left at AMD's R&D team and think what they can do with some more money in their pockets. In comparison, everything Intel did in the past with all its manpower in those years was just plain weak.
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