If AMD's market cap is actually close to Intel's then wow that's quite the bubble aye.
Cause if you can have that market cap but nowhere near the revenue then its a bubble, must be crazy high P/E like Tesla
edit: Yep P/E of 46 LMAO, AMD way overvalued. Hopefully they can convert the goodwill into massive revenue otherwise that share price will eventually pop
Revenue and size are not as relevant as you think.
What matters is what people think they will get in return for their investment, how much growth a company has, right now AMD are growing at breakneck speed while Intel are stagnant, in some aspects important to investors Intel are in decline.
There is no such thing as overvalued, look at Apple and Nvidia, Nvidia quite recently, not many years ago were no bigger than an AMD smaller than they are today, but Nvidia was going places, they had explosive levels of investment, much like AMD now, Apple was the same years before that.
If AMD's market cap overtakes Intel it will be because people are confident of AMD's destination, confident enough to put their money on it.