AMD closed at $531.28 on October 26, 2026, up 2.80% from $516.79 on 16.66 million shares, 0.87x the 19.21 million 20-day average and 0.78x the 21.27 million 60-day average, printing the first higher high of the October downtrend with a $533.50 intraday peak above the October 22 high of $529.98. The backdrop was supportive: the S&P 500 rose 0.70% to 7,676.77, the Nasdaq gained 0.82% to 26,169.38, the Dow added 0.28% to 52,361.58, gold rose 0.58% to $4,031 and the fell 5.45% to 18.39, while the 10-year Treasury yield held at 4.986%. The regime is Neutral by level with volatility pressure easing, but a 4.986% 10-year yield still caps the multiple on a 2.454-beta name trading at 33.72x forward earnings. Fundamentally the franchise remains intact: revenue grew 50.1% year over year, operating cash flow was $10.08 billion, free cash flow $8.841 billion, net cash $8.835 billion against $4.276 billion of debt, and gross, operating and margins were 55.72%, 17.25% and 23.15%. Valuation is the binding constraint: $867.30 billion of market capitalization equals 135.53x trailing earnings, 33.72x FY+1 of $15.75581, 70.0x FY0 of $7.58843, 21.00x sales, 87.31x , 12.90x book and a 1.02% free-cash-flow yield, with the supplied 0.514 too methodology-dependent to lean on. Earnings quality is good but not flawless: five of the six supplied quarters beat consensus by an average of about 4.8%, with June 2026 of $1.66 versus $1.60841 expected, a 3.21% beat, while June 2025 missed by 0.55%. Estimate momentum stays constructive on the out-year and softer at the near end: FY+1 is $15.75581, up 14.36% over 90 days with seven upward and one downward revision in the last 30 days and four upward versus zero downward in the past week, but the following-quarter estimate slipped to $2.64729 from $2.65183 a month ago with two downward revisions. Sell-side posture is supportive on paper - 5 Strong Buy, 39 Buy, 11 Hold, zero Sell, no formal changes in 90 days, and repeated October target raises to as high as Citigroup's $800 - leaving the $637.61 mean target 20.0% above the current price. Technically the intermediate trend is still broken but repairing: price is 3.31% below the $549.47 and 8.93% below the $583.39 , sits at -10.991 with the histogram improving for a second session to -12.005 from -14.468, has recovered to 42.89, and at 613.17 million is up from its October 22 trough but still 14.0% below the October 6 peak. The offset is that price remains 28.73% above the $412.71 and the sits 33.14% above it, so the long-term golden-cross structure is untouched and the move still reads as a correction inside a bull trend. No news item in the bundle is dated after September 30, so neither the October 22 8.10% flush nor the October 23-26 recovery has an identifiable company catalyst. The November 3 report, seven days away per the event calendar, dominates the near-term setup because it must validate a 36.8% sequential step-up from $1.93464 to $2.64729. Positioning stays defensive into that print even as the tape improves: the one-month view is HOLD, while the six- and twelve-month BUY ratings rest on the rising out-year estimate, the net-cash cushion and the intact AI infrastructure demand cycle. The two levels that matter are $514.01 as the first higher low and $480.33 as the line that would confirm failure of the entire September-October base.
Decision
Live price
$559.03
Recommendation score
57%
57%
Confidence
62%
62%
Outlook by horizon
1M
HOLD
Near
6M
BUY
Mid
1Y
BUY
Long
Primary catalyst
The November 3 earnings report, seven days away, is the single most market-moving item in the supplied data and could easily exceed 5% in either direction. Investors will test whether the FY+1 consensus of $15.75581 and the 36.8% sequential step-up embedded in the following-quarter estimate of $2.64729 are supported by accelerator shipments, data-center capacity and margins, particularly given that the near-term estimate has drifted lower over the last 30 days while the stock sits 3.31% below its with the October 22 gap still unfilled.
Cap AMD at quarter-size through the November 3 print and no more than half-size otherwise. The 2.454 beta, 50.23% 20-day realized volatility, 5.04% and an 8.10% single-session decline on 1.46x average volume make full sizing inappropriate even with the easing to 18.39. At $531.28 the stock has rallied 2.80% out of the prior $488-$512 entry zone and now sits just under the $549.47 , so wait for either a pullback into the $506-$522 retest band or a post-earnings close above $552.72 on volume of at least 1.5x the 19.21 million 20-day average rather than chasing a below-average-volume bounce.
Thesis Snapshot
Why It Works
The bull case is that AMD is a genuinely profitable AI franchise trading at a smaller premium after a 19.32% drawdown, and the tape is finally confirming the retest: revenue is growing 50.1%, free cash flow is $8.841 billion, net cash is $8.835 billion, five of six supplied quarters beat consensus, and FY+1 has risen 14.36% in 90 days to $15.75581 with seven upward versus one downward revision in the last 30 days and four upward, zero downward revisions in the past week. The $637.61 mean target has not moved through the drawdown, so upside to consensus is still 20.0%, and no analyst has downgraded the stock in 90 days while price targets were raised repeatedly in October. Price remains 28.73% above the $412.71 and the sits 33.14% above the , so the long-term golden-cross alignment is intact, and the October 26 session delivered the first higher high since October 15 - a $533.50 print above the October 22 high of $529.98 - on a 2.80% gain that outpaced the S&P 500's 0.70% and the Nasdaq's 0.82% move while the fell 5.45% to 18.39. On the prior plan, the $488-$512 entry zone was actually touched (October 22 low $502.60, October 23 low $508.36) and the $458 stop was never approached, so the position is now 3.8% above the top of that zone; the $480.33 invalidation level was likewise never breached. A November 3 report that validates accelerator delivery and margin would restore confidence in the rising out-year estimates and leave the shares below 33x forward earnings for the first time in the move.
What Breaks It
The strongest argument against owning AMD is that the bounce is happening on shrinking volume into a binary event: October 26 gained 2.80% on 16.66 million shares, only 0.87x the 19.21 million 20-day average and 0.78x the 60-day average, while the October 22 decline that created the gap traded 28.01 million shares, so the buyers are far less committed than the sellers were. The intermediate trend remains broken, with price 3.31% below the $549.47 and 8.93% below the $583.39 , at -10.991 with the line still falling even as the histogram improves, and at 613.17 million still 14.0% below its October 6 peak. Valuation offers no refuge at 33.72x FY+1, 70.0x FY0, 21.00x sales, 87.31x and a 1.02% FCF yield; holding the $15.75581 estimate constant, a de-rating to 30x forward earnings implies about $473 per share (11.0% below the current price), 28x implies about $441 (17.0% below) and 25x implies about $394 (25.9% below). The following-quarter estimate has slipped to $2.64729 from $2.65183 a month ago while consensus still requires a 36.8% sequential step-up on November 3, and nothing in the news feed is dated after September 30 to explain the 8.10% decline, which means the marginal seller on October 22 may know something the bundle does not. The short thesis is that NVIDIA, hyperscaler custom silicon and merchant entrants capture accelerator demand faster while data-center capacity constraints delay AMD deliveries and pressure mix; with short interest at only 2.42% of float and a 1.83 short ratio there is no squeeze fuel to cushion a downside surprise either.
A daily close below the $480.33 September 14 low on volume at or above the 19.21 million 20-day average would confirm failure of the entire September-October base and invalidate the entry thesis, in which case exit rather than average down. The nearer warning level is $508.36, the October 23 low and only 4.31% below the October 26 close of $531.28; a close beneath it would break the higher-low sequence established this week. Conversely, a post-earnings close above $552.72 on volume of at least 1.5x the 20-day average would repair the setup and justify entering above the stated zone.
Multiple-compression risk: at 33.72x FY+1, 70.0x FY0, 21.00x sales, 87.31x and a 1.02% FCF yield, holding the $15.75581 FY+1 estimate constant, a de-rating to 30x forward earnings implies about $473 per share (11.0% below the $531.28 close), 28x implies about $441 (17.0% below) and 25x implies about $394 (25.9% below).
Earnings gap risk: the November 3 report is seven days away with beta of 2.454, 50.23% 20-day realized volatility and at 5.04% of price; the October 22 session alone opened 5.18% below the prior close and closed 8.10% lower without any identifiable company catalyst, so a stop can be executed through.
Execution and competitive risk: consensus requires to rise from $1.66 in June 2026 to $1.93464 and then $2.64729, a 36.8% sequential step-up, while the following-quarter estimate has been trimmed from $2.65183 to $2.64729 over 30 days and NVIDIA, hyperscaler custom silicon and merchant entrants are all targeting the same accelerator demand that Cerebras describes as capacity-constrained.
Macro and liquidity risk: the 10-year yield held at 4.986% on October 26, keeping discount-rate pressure on a 33.72x multiple; the Reuters coverage also cites oil-driven inflation from the US-Iran war and a 25 basis point Fed hike already delivered this month with October odds near 37%, keeping policy risk live for a 2.454-beta name even as the eased to 18.39.
Capital-allocation risk: the approximately $8.2 billion all-stock World Labs transaction, about 0.95% of the $867.30 billion market capitalization and still pending regulatory approval, adds dilution and integration risk before any demonstrated earnings contribution.
Watch Next
Next earnings: Nov 3, 2026
The November 3 earnings report, seven days away, is the single most market-moving item in the supplied data and could easily exceed 5% in either direction. Investors will test whether the FY+1 consensus of $15.75581 and the 36.8% sequential step-up embedded in the following-quarter estimate of $2.64729 are supported by accelerator shipments, data-center capacity and margins, particularly given that the near-term estimate has drifted lower over the last 30 days while the stock sits 3.31% below its with the October 22 gap still unfilled.
Signal Dashboard
Decision inputs
6 signals
Fundamental
20.0%
Upside to analyst mean target
At $531.28 the market capitalization is $867.30 billion, implying 135.53x trailing earnings, 33.72x forward earnings on FY+1 consensus of $15.75581, 70.0x FY0 consensus of $7.58843, 21.00x sales, 87.31x on an $834.81 billion enterprise value, 12.90x book and a 1.02% free-cash-flow yield. The supplied of 0.514 is well inside the broadly attractive sub-1.5x band, but its methodology is not provided; mechanically dividing the 33.72x forward multiple by the 159.5% trailing earnings-growth rate yields roughly 0.21, and both figures lean on a backward-looking growth rate inflated by a low base, so the should be treated as indicative rather than decision-grade. The 2.80% October 26 advance re-expanded the multiple rather than compressing it, so the correction still has not created a valuation cushion. Holding the $15.75581 estimate constant, a de-rating to 30x forward earnings implies about $473 per share (11.0% below), 28x implies about $441 (17.0% below) and 25x implies about $394 (25.9% below), which is the practical measure of multiple-compression risk. No consistent peer set or historical AMD valuation series is supplied, so precise relative valuation is unavailable; on absolute measures the shares remain expensive for a hardware designer earning a 17.25% operating margin, a 15.58% net margin and a 10.2% . The core valuation question remains whether the 107.6% FY0-to-FY+1 step is achievable, because the entire current multiple rests on that out-year number.
Technical
Neutral
Trend quality
At $531.28 AMD sits 3.31% below the $549.47 , 8.93% below the $583.39 and 28.73% above the $412.71 , with the still 33.14% above the so the long-term golden-cross alignment is intact beneath a still-broken intermediate trend. The October 26 session produced the first higher high in the October sequence - a $533.50 high above the October 22 high of $529.98 - and closed at $531.28, reclaiming the $524.10-$529.98 zone that had capped the prior two sessions, though the October 22 gap from the $552.72 close to the $524.10 open is only partially filled and price remains below the October 19 close of $538.05 and the October 15 lower high of $568.62. The structure is a downtrend nested inside a longer-term uptrend that has finally produced a constructive two-session reversal attempt; a close above $549.47-$552.72 would repair the intermediate trend, while a close back below $514.01 and then $508.36 would re-open the September base at $497.51 and $480.33.
Earnings
7d
Improving
June 2026 was $1.66 versus a $1.60841 estimate, a 3.21% beat and the fifth beat in six supplied quarters; the average surprise across those six quarters was about 4.8% and rose from $1.37 in March 2026. The history is not monotonic (June 2025 missed by 0.55%), no post-report share reaction or management guidance history is supplied, and the beat pattern alone cannot prove systematic under-promising. The next report is scheduled for November 3, 2026, seven days away per the event calendar, with consensus of $1.93464 for the coming quarter and $2.64729 for the following quarter.
News
Mixed-Bullish
Headline tone
The November 3 earnings report, seven days away, is the single most market-moving item in the supplied data and could easily exceed 5% in either direction. Investors will test whether the FY+1 consensus of $15.75581 and the 36.8% sequential step-up embedded in the following-quarter estimate of $2.64729 are supported by accelerator shipments, data-center capacity and margins, particularly given that the near-term estimate has drifted lower over the last 30 days while the stock sits 3.31% below its with the October 22 gap still unfilled.
Macro
Neutral
4.99% 10Y / 18.4 VIX
easing 5.45% to 18.39 keeps the market inside the neutral 15-20 band and a 4.986% 10-year yield is essentially unchanged, which relieves a little discount-rate pressure, but a 2.454-beta, 33.72x-forward-earnings, 50.23%-realized-volatility name still gets no valuation cushion from this tape.
Stability
High-Beta Growth
Satellite Upside
AMD is a self-funding semiconductor designer with 50.1% revenue growth, $8.841 billion of free cash flow and $8.835 billion of net cash, so the investment case does not depend on external financing or balance-sheet rescue. Offsetting that, a 2.454 beta, 50.23% 20-day realized volatility, at 5.04% of price, a 33.72x forward and a demonstrated -8.10% single-session decline on October 22 leave the shares exposed to severe multiple compression and earnings-driven gaps. It belongs in a deliberately sized satellite growth sleeve, not as a core anchor, particularly with earnings seven days away. Thesis durability is medium: the CPU and GPU franchise is real and cash-generative, but forward returns hinge on accelerator delivery, data-center capacity and margin execution against NVIDIA, hyperscaler custom silicon and merchant entrants.
Analyst Spread
Mean Target
$637.61
High / Low
$365 / $1250
Median Target
$635.50
Consensus range
$365 - $1250
— analysts
Mean
$365$638$1250
Consensus
The $637.61 mean and $635.50 median targets imply about 20.0% and 19.6% upside from $531.28. The $365 low and $1,250 high span 3.42x, showing that the sell-side disagrees substantially about accelerator share, competition and the correct terminal multiple. The analyst-count field is null even though the recommendation distribution contains 55 ratings. The mean target has not been cut through the 19.32% drawdown from the 52-week high, which either reflects genuine conviction or stale models ahead of the November 3 print; given the dispersion and the absence of any downgrade in 90 days, the mean target should be read as a directional signal rather than a support level.
Positioning Pulse
Insider Signal
Neutral
Net Bias
Balanced
Insider Own.
0.4%
Institutional Own.
75.3%
Interpretation
Because the raw transaction codes do not verify direction or discretion, the records cannot be treated as confirmed bearish insider selling and the correct read is a neutral signal rather than an inferred cluster of distribution.
Notable activity
The nine-row extract includes CEO Lisa Su records with repeated 80,000-share and 76,496-share blocks, Officer Forrest Norrod records of 40,540 shares twice, and a 9,300-share CTO Mark Papermaster record; non-null value fields include $11.509 million and $10.913 million entries but mirror-image duplicates make any aggregate unreliable. Dates are ordinal values, transaction_type is blank and no 10b5-1 indicator is supplied, so open-market sales cannot be distinguished reliably from awards, tax withholding or pre-scheduled dispositions.
Market Context
Industry
Semiconductors
Mixed-Bullish
Sentiment
31
Tracked names
13
Grouping
industry
Semiconductors industry is currently Mixed-Bullish with an average recommendation score near 55. capital and conviction are improving across the group, and leadership is concentrated in NVDA, TSM, AVGO.
Rotation Drivers
Average recommendation deltas are trending higher across Semiconductors industry, which suggests improving risk appetite inside the group.
3 names are rated bullish versus 0 bearish names, keeping the group tone mixed-bullish.
Leadership is concentrated in NVDA, TSM, AVGO, so those names are the cleanest read on group-level capital rotation.
AI infrastructure remains the semiconductor complex's central growth driver: the supplied Reuters coverage attributes part of the 2.2% second-quarter GDP revision to AI buildout investment, HPE raised its long-term networking outlook and announced a $1.2 billion Vultr deal, and Cerebras disclosed $25.4 billion of remaining performance obligations with 103% year-over-year core revenue growth. Those are demand-side confirmations, but they do not prove AMD's share capture, and Cerebras explicitly named data-center space as the industry bottleneck. The theme is strengthening operationally while only beginning to stabilize in equity terms: AMD's data-center business grew 50% year over year in Q2 2026 and the stock rallied 2.80% on October 26 with the Nasdaq up 0.82%, yet it still sits 19.32% below its 52-week high with 50.23% 20-day realized volatility after a month in which it returned -15.75%.
AMD reports on November 3, seven days away, and investors need shipment and margin evidence before accepting the $15.75581 FY+1 estimate that underpins the theme's valuation.
The Reuters report links the 2.2% second-quarter GDP revision partly to AI infrastructure investment and details HPE's raised networking outlook and $1.2 billion Vultr transaction.
Cerebras reported $25.4 billion of remaining performance obligations and 103% year-over-year core revenue growth while flagging data-center capacity as the delivery constraint.
AMD FY+1 consensus is up 14.36% over 90 days with seven upward versus one downward revision in 30 days, yet the shares returned -15.75% over the past month with 50.23% realized volatility, showing that positioning de-risked even as estimates rose.
Physical AI / World Models
Score: 0
Neutral
AMD's all-stock World Labs transaction and the Ross engineering assistant give it concrete strategic exposure to world models and AI-enabled engineering workflows, and the $8.2 billion deal equals only about 0.95% of AMD's market capitalization, so it is an option rather than a solvency issue. Neither initiative has demonstrated material incremental earnings, the acquisition remains pending regulatory approval, and the Ross launch produced a 0.5% share decline rather than a re-rating. The theme is a longer-dated strategic call that does not offset near-term earnings and multiple risk.
The World Labs transaction is expected to close by year-end subject to regulatory approval, while the November 3 report is the next opportunity for AMD to demonstrate any monetization or execution evidence from its software and physical-AI investments.
The approximately $8.2 billion all-stock World Labs deal creates exposure to world models but adds dilution and integration risk before any revenue contribution is demonstrated.
Ross is now generally available across engineering workflows, but the supplied launch coverage reports no positive share reaction and provides no revenue or customer-adoption metrics, so the market is not yet paying for it.
Key Stats
23 metrics total
Market Cap
$867.30B
P/E (TTM)
135.5
Forward P/E
33.7
Revenue Growth
50.1%
ROE
10.2%
Beta
2.45
Full Metric Set
17 additional stats
Valuation Stack
Multiples and cash-flow framing.
Price / Sales
21.0
Price / Book
12.9
EV / EBITDA
87.3
Quality & Balance Sheet
Margins, leverage, and liquidity.
Gross Margin
55.7%
Operating Margin
17.2%
Debt / Equity
6.4
Current Ratio
2.61x
Quick Ratio
1.69x
Positioning & Range
Short interest and 52-week location.
Short % Float
2.4%
Short Ratio
1.83x
52W High
$658.52
52W Low
$188.22
From 52W High
-19.3%
From 52W Low
182.3%
Company Classification
Sector and industry context.
Sector
Technology
Industry
Semiconductors
Additional Signals
Free Cash Flow
$8841499648.00
Detailed Analysis
Valuation
At $531.28 the market capitalization is $867.30 billion, implying 135.53x trailing earnings, 33.72x forward earnings on FY+1 consensus of $15.75581, 70.0x FY0 consensus of $7.58843, 21.00x sales, 87.31x on an $834.81 billion enterprise value, 12.90x book and a 1.02% free-cash-flow yield. The supplied of 0.514 is well inside the broadly attractive sub-1.5x band, but its methodology is not provided; mechanically dividing the 33.72x forward multiple by the 159.5% trailing earnings-growth rate yields roughly 0.21, and both figures lean on a backward-looking growth rate inflated by a low base, so the should be treated as indicative rather than decision-grade. The 2.80% October 26 advance re-expanded the multiple rather than compressing it, so the correction still has not created a valuation cushion. Holding the $15.75581 estimate constant, a de-rating to 30x forward earnings implies about $473 per share (11.0% below), 28x implies about $441 (17.0% below) and 25x implies about $394 (25.9% below), which is the practical measure of multiple-compression risk. No consistent peer set or historical AMD valuation series is supplied, so precise relative valuation is unavailable; on absolute measures the shares remain expensive for a hardware designer earning a 17.25% operating margin, a 15.58% net margin and a 10.2% . The core valuation question remains whether the 107.6% FY0-to-FY+1 step is achievable, because the entire current multiple rests on that out-year number.
Balance Sheet
AMD holds $13.111 billion of cash against $4.276 billion of debt, or roughly $8.835 billion of net cash equal to 1.02% of the $867.30 billion market capitalization, with cash-to-debt coverage of 3.07x and operating-cash-flow-to-debt coverage of 2.36x. Operating cash flow of $10.08 billion and free cash flow of $8.841 billion imply about 87.7% cash conversion, funding research and product investment internally; capital-expenditure detail is not supplied. Current and quick ratios of 2.61 and 1.69 are healthy. The reported debt-to-equity of 6.361x screens as highly leveraged, but its calculation basis is not provided and it is inconsistent with the net-cash position implied by the cash and debt totals, so the cash, debt and coverage figures should be trusted over the ratio. of 10.2% and of 5.13% are modest against a 12.90x book multiple, so the balance sheet is a safety cushion rather than an engine of shareholder returns.
Growth
Revenue grew 50.1% year over year and reported earnings growth is 159.5%, the latter inflated by a low comparison base. The supplied path is non-monotonic: $0.96 in March 2025, $0.48 in June 2025, $1.20 in September 2025, $1.53 in December 2025, $1.37 in March 2026 and $1.66 in June 2026. Current gross, operating and margins are 55.72%, 17.25% and 23.15%, and no historical margin series is supplied, so sustained margin expansion cannot be established from this bundle. Consensus now expects to step from $7.58843 in FY0 to $15.75581 in FY+1, about 107.6% growth, which means the growth case is increasingly weighted toward accelerator mix and operating leverage rather than the legacy CPU franchise. The near-term bridge is steep: the following-quarter estimate of $2.64729 versus the coming quarter's $1.93464 requires a 36.8% sequential increase, and that following-quarter number itself has been trimmed from $2.65183 thirty days ago.
Business Quality
AMD is an established CPU and GPU designer with a credible and growing AI accelerator position, and gross margin of 55.72%, operating margin of 17.25% and margin of 23.15% are consistent with a premium hardware franchise. However, of 5.13% and of 10.2% are not exceptional enough on their own to justify 21.00x sales, and 12.90x book is a rich claim on a 10.2% return. Liquidity is solid with a 2.61 current ratio and 1.69 quick ratio, and $8.835 billion of net cash materially reduces financial risk. Institutional ownership of 75.32% against insider ownership of 0.42% means the shareholder base is professional and momentum-sensitive with limited insider skin in the game. Competitive pressure from NVIDIA, hyperscaler custom silicon and merchant accelerator entrants means strong industry demand does not guarantee that AMD captures the share embedded in consensus, and the Cerebras disclosure that data-center space is the industry bottleneck is a reminder that demand alone does not convert to revenue on schedule.
Capital Allocation
AMD generates $10.08 billion of operating cash flow and $8.841 billion of free cash flow, pays no dividend, has a 0% payout ratio and no confirmed repurchase programme in the supplied data; shares outstanding are about 1.6325 billion against a float of 1.6235 billion. The approximately $8.2 billion all-stock World Labs transaction, still pending regulatory approval and expected to close by year-end, equals about 0.95% of the current $867.30 billion market capitalization and adds dilution and integration risk before any material revenue contribution is demonstrated. The deal may extend AMD's position in world models and physical AI, but per-share value creation is unproven and the deployment is strategic rather than immediately accretive. Because the company is funded entirely from internal cash generation, the central capital-allocation question is not solvency but whether acquisition currency and R&D dollars convert into accelerator share and margin.
Estimate Revisions
Revisions remain constructive on the out-year and softer at the near end. The current quarter is $1.93464, up 4.44% from $1.85237 ninety days ago, with one upward and no downward revision in the last 30 days. The following quarter is $2.64729, down from $2.64704 seven days ago? No - it is fractionally above the seven-day figure of $2.64704 but below the $2.65183 thirty-day and $2.65132 sixty-day readings, with two downward against one upward revision over 30 days and one downward in the last seven sessions. FY0 is $7.58843, up 2.02% over 90 days with five upward and one downward 30-day revision and three upward in the last week; FY+1 is $15.75581, up 14.36% over 90 days with seven upward and one downward 30-day revision and four upward with zero downward in the last seven sessions, although it is a marginal $0.0063 below the seven-day-ago $15.76209. The recommendation distribution is five Strong Buy, 39 Buy and 11 Hold with no Sells, and there have been no formal upgrades or downgrades in 90 days, although price targets were raised repeatedly in October: Susquehanna to $620 from $550 on October 21, Citigroup to $800 from $575 and Mizuho to $705 from $580 on October 6, and Stifel to $700 from $635 on October 5. The read is that the sell-side is fading the near quarter while raising the out-year, which supports the long horizon but not the print seven days away.