Independent equity research on US-listed companies. tag:abis-capital:/2026-11-11T12:00:00Z ABiS Capital tag:abis-capital:/research/amd-equity-research-2026-11-11/2026-11-11T12:00:00Z

At $515.21, AMD shares price in about $137 billion of annual free cash flow from fiscal 2032, nearly three times the $47 billion we model for fiscal 2031 after 27% annual revenue growth; we rate the shares Underweight.

tag:abis-capital:/research/amd-event-study-2026-11-11/2026-11-11T12:00:00Z

AMD shares lagged the S&P 500 over the two sessions after 9 of 13 comparable earnings reports, with a median excess return of −12.0% over the following month. The next report, expected 2 February 2027, follows a 38% fall and 27% rebound in five weeks.

tag:abis-capital:/research/amzn-equity-research-2026-11-10/2026-11-10T12:00:00Z

At $266.93, Amazon shares price in about $323 billion of annual free cash flow from 2032, 1.5 times the $213 billion our base scenario generates in 2031, which we think requires AWS returns on capital above our assumptions; we rate the shares Underweight.

tag:abis-capital:/research/jpm-equity-research-2026-11-10/2026-11-10T12:00:00Z

At $342.08 the market pays for a 21% return on tangible equity that lasts forever. We expect it to fade from 21.5% to 16% over ten years, which supports $270–335. We would hold what is owned and add nothing.

tag:abis-capital:/research/amzn-event-study-2026-11-10/2026-11-10T12:00:00Z

Amazon shares have lagged the S&P 500 after four of eight reports, with two-session moves from −9.4% to +18.4% depending on whether cloud growth accelerated. The next report, expected 4 February 2027, comes with trailing free cash flow at −$42.4 billion.

tag:abis-capital:/research/jpm-event-study-2026-11-10/2026-11-10T12:00:00Z

JPM's first-day reaction to earnings has been small and two-sided, with a median of 0.0% against SPY. The two sharp falls, near −4.5%, followed guidance disappointments. The 14 January report brings the 2027 guide.