AMD’s "Opportunistic Geometry": Q4 2025 earnings - 2.3.2026 (045)

AMD just dropped their Q4 2025 numbers, and if you only read the headlines, you might be scratching your head at the sell-off. On paper, it looks like a victory lap-revenue is up 11%, and they beat on the bottom line. But on this episode of Earnings Unscripted, Susie and Miro dig past the bold font to find the "creative" accounting holding the roof up. 🧐We unpack the schizophrenic nature of this report: the Data Center business is booming (+24% QoQ) while the Gaming division effectively evaporates (-35% in three months). But the real story is in the footnotes. We expose the $360 million "inventory reversal" that artificially inflated gross margins to 57%, a move Miro calls "opportunistic geometry." With China revenue set to vanish after Q1 and expenses ballooning to chase Nvidia, is this a "good news is bad news" quarter, or a buying opportunity before the massive OpenAI ramp? Tune in for the unfiltered breakdown. 📉🚀