Nvidia trades at 33 times its projected earnings for fiscal 2026 (which ends in January 2026), while AMD trades at 45 times its estimated earnings for 2025. Therefore, Nvidia's stock still looks cheaper than AMD's relative to its growth potential -- even though it has already outperformed AMD by a wide margin over the past five years.

Is Advanced Micro Devices, Inc. the next Nvidia or Intel? Explore AMD's Q4 results, AI market potential, and competition. Click for more on AMD, NVDA, and INTC.

Advanced Micro Devices (AMD) shares have underperformed in recent months — partly because earnings haven’t smashed investor expectations like

Advanced Micro Devices(NASDAQ: AMD) is one of the biggest names in the computing industry but has played second-fiddle to many competitors throughout its lifetime. While it was behind Intel in PC processors for many years,

Triple-digit gains from these AI stocks should be more than enough to outperform Nvidia (NASDAQ: NVDA ). NVDA stock has “only” delivered 7% in gains over the past six months, and it no longer has the potential to print generational wealth.

Expectations are high as Nvidia prepares to report earnings on Feb. 26. Heavy planned spending on AI infrastructure by tech giants should benefit Nvidia for now, but it's unclear whether those investments will ever pay off.