Inconceivable! but apparently we hit $1T intraday today Among the Most Fortunate are those who held more than I did (although I still have a meaningful chunk).
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Time to take stock — figuratively and literally.
To start with the latter: I’ve sold my first batch of AMD shares. This is my first sell order since I started accumulating AMD shares all the way back in 1999.
Don’t worry though, it was just a handful of shares to verify that my account is still operational. You see, I got this scary email from by bank back in June, telling me that my account was locked and that I needed to move my shares elsewhere. Not trusting the email, I followed up with a secure message within the online net banking service. After a week I got a reply saying my account had been reenabled, but only for selling, and that they still recommended I move elsewhere.
Their argument was tax related (I have my trading account overseas), but since my situation hasn’t changed since 2004, I found that argument rather flimsy. After discussing the issue with AI, I concluded the real impetus was probably a risk reduction measure after a routine account review, seeing my tax status and the substantial holdings that have built up over the years.
Anyway, now that I have fully retired and other liquid assets are running dry, I needed to make sure that I have access to my AMD gains. So it was a relief to see the order go through at $648.90 today.
On the figurative meaning of taking stock, I just revisited this message from 2019; a reply to a warning that AMD was overvalued at $15 and that the macroeconomics looked scary:
“You are ~18 years my senior, so I understand you have a shorter perspective. However, like Pravin, I’m in AMD in large part for the thrill of the ride — I would love that to include a trajectory akin to Nvidia or Apple. It doesn’t have to be to the same magnitude, but as I’ve said before, seeing AMD end up as a respected $100B company would be nice. Of course, that’s wishful, and markets and destiny may conspire against us.”
AMD did execute a turnaround worthy of the history books, and we did reach $100B. Then we started wondering whether there was any multiple left in the stock. Again, it turned out it was. On the back of the fledgling AI revolution, we’ve now passed $1T market valuation.
So where do you think AMD goes from here?
What do you see as the most likely scenario for AMD over the next decade? What’s the pessimistic scenario? And what’s the pie-in-the-sky scenario?