$AMD 2026 outlook: Expect wide range-bound action, especially H1

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AMD - Not in position (on request).
Fundamentals: Data center growth solid but competition intensifying (NVDA AI dominance, INTC fighting back). Margins under pressure as hyperscalers negotiate harder. 2025 guidance likely conservative.

Technicals: 150x move since 2016 puts us in rarified air. Channel structure suggests we're entering consolidation/normalization phase.

2026 outlook: Expect wide range-bound action, especially H1. Big down, big up structure typically precedes extended base-building.
Channel could extend years. Overextension possible, but probability favors digestion here.

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