JHVEPhoto Investment thesis My previous bearish thesis about AMD (NASDAQ:AMD) aged decently as the stock substantially lagged behind the broader U.S. market since April with a negative share price change. Today, I want to explain why I remain quite bearish about AMD, especially in light of the upcoming Q2 earnings release. Valuation still looks like a problem as AMD's valuation ratios are sky-high and my optimistic DCF model suggests that the stock is 14% undervalued. The fact that AMD is likely overval ...