Remember the days when AMD was like $3/share and Intel was like crushing it. The world really has changed in the last decade.
From Nov 2012 (that was after Bulldozer), it run to $153/share on 19th Nov '21 – that's 8255,38%!
I remember vividly back in 2002 studying the newly established 'FT Deutschland' (FT's German Edition) when being in Germany, that FT Deutschland brought an profound article talking about AMD's imminent impact of success (and how it's going to hit INTC hard) with the then-new Thoroughbred-Athlons – I should've invested as I felt something was up.
Then I bought at 80 and held through 160, now it's at 96.
I'm a long term bull on AMD, but I think the rocket left the atmosphere already. To me it's a blue chip. Intel nor AMD will ever go out of business, unless and until x86 itself dies and neither can pivot. AMD has a lock on consoles, it is the only competitor to Intel in x86, it basically can't go out of business.
Not a problem - they both (Intel and AMD) make ARM chips too, don't they?
Consoles, most OEMs, and all non-gigacorps will be buying off-the-shelf processors.
That being said there's likely still a few years of runway left for their growth. Even if cloud vendors don't push their own chips aggressively, they can use it as leverage to cut into AMD margins.
I don't see how ARM is an argument. AMD will easily be able to create competitive arm processors, there just wasn't a strong financial incentive to do it before