$11.5 billion in revenue, data center sales doubled, yet AMD plunged 9% after hours—the crypto crowd knows this script all too well Guys, let’s start with a set of numbers— Revenue of $11.536 billion, up 50% year over year, hitting a record high. Earnings per share of $1.66, beating expectations of $1.62. Data center revenue of $6.7 billion, up 107% year over year and accounting for 58% of total revenue. Q3 guidance of $13 billion, above Wall Street’s average expectation of $12.5 billion. For any other company, this would be a legendary earnings report. AMD fell 9% after hours. It rose 7% during regular trading, only to erase those gains and then some after hours. Doesn’t it feel like one of your altcoins posted a better-than-expected bullish update, only to get dumped? Doesn’t it feel like staring at the candlestick chart at 3 a.m., only to watch it plunge right when the bullish news lands? Exactly the same script—only the protagonist has changed. Three charts explain exactly why AMD fell— First chart: capital expenditures exploded. Q2 capital expenditures came in at $808 million, while the market expected only $298.6 million. It spent three times as much on AI infrastructure. The market took one look and thought—wow, all that money has been spent, but where are the profits? Where’s the gross margin? Second chart: gross margin is going nowhere. Q3 gross margin guidance is 56%, flat from Q2. For a fast-growing AI chip company, the market wants sustained gross-margin expansion, not stagnation. AI GPU gross margins are already relatively low; if overall gross margin cannot rise, why should investors give you a higher valuation? Third chart: the guidance was “not impressive enough.” The $13 billion Q3 guidance is above Wall Street’s average expectation of $12.5 billion—but some buy-side investors had previously bet on $13.5 billion to $14 billion. “Beating the average but not the most optimistic expectations”—that is the entire reason for the drop. One analyst put it this way: “A classic ‘sell the news’ moment—AI chip stocks have already been priced for perfection.” Crypto traders know this script better than anyone. A coin goes up tenfold, then posts a quarterly report that is “slightly better than expected”— The market says only one thing: “That’s it?” AMD’s share price has already more than doubled this year. Its valuation has soared into the stratosphere, and the market wants more than “good”—it wants “explosive.” Not “better than expected,” but “crushing expectations.” Anything “less than perfect” is bearish. That’s why $11.5 billion in revenue and 107% data center growth resulted in a 9% bloodbath. Remember this lesson— At peak valuations, “in line with expectations” is the biggest miss of all. At peak valuations, “slightly better than expected” is equivalent to “not better than expected enough.” At peak valuations, the script of “selling the news” always arrives before the script of bullish news being realized. The next one to fall victim to “sell-the-news” could be the coin in your wallet.#Gate上线宇树科技盘前合约 #美股芯片股全线大涨 #GateCard消费返现最高8% $BTC $ETH $AMD

Qingfeng’s Live Trading Record All the short setups publicly shared yesterday morning played out✅ Bitcoin shorted at 64000‑64500; the market pulled back as expected, with the price falling to 63428 and the short profit secured. Ethereum shorted at 1870‑1890; after rising, it turned lower and fell to 1852, successfully capturing the pullback profit on the short. For each trade, two long/short plans are set in advance; once the market unfolds, the plan is executed accordingly, avoiding last-minute chasing. With 9 years in crypto, I only trade short- and medium-term mainstream BTC/ETH futures, with transparent and openly shared strategies.$BTC $ETH #美股芯片股全线大涨 #Gate上线宇树科技盘前合约 #TetherGold逆势扩张持仓增长9.5%

Bitcoin is generally exhibiting a volatile recovery and upward trend. It began rebounding from the low around 63415 in the early hours of today, gradually breaking through short-term resistance during the choppy climb and reaching a high around 64360. It is currently trading near 64031. Ethereum’s movement is highly correlated with Bitcoin’s, likewise beginning its upward move from the low at 1852 and climbing to around 1881. It steadily followed Bitcoin’s rise throughout, highlighting the strong correlation between the two markets. On the daily timeframe, after undergoing a weak pullback in the previous period, the price completed its accumulation and bottom formation within a key support zone. It has now successfully shifted into a steady, volatile recovery uptrend, with bullish momentum being released gradually and driving the short-term moving average system to form a coordinated upward-turn pattern. This indicates that the short-term market trend has returned to bullish control, and that the upward structure has a certain degree of continuity. However, the price is still trading below the 200-day moving average, and medium-term resistance has not yet been effectively broken. Repeated shakeouts during the advance are a normal part of the accumulation process. The four-hour trend continues to show a strong rebound. The price is steadily climbing along the middle Bollinger Band, while the MACD golden cross continues to expand with increasing volume. The RSI remains in a neutral-to-bullish range without showing any overbought signal, further strengthening the foundation for the bullish recovery on the daily timeframe. The current market rhythm indicates that bullish momentum is still building. The short-term pullbacks during this process are not signals of a trend reversal, but typical accumulation shakeouts intended to build momentum for a further advance. Today’s strategy remains centered on positioning for long trades on pullbacks. Specific trading advice: Monitor support in the 63800-63300 range, as well as at 62800 and 61800. If support holds when these levels are reached, consider entering long positions at lower levels, with an upside target of 500-6000 points. $BTC #美股芯片股全线大涨