Advanced Micro Devices' (NASDAQ: AMD) share price plunged more than 10% following what can only be described as a great report. While the Q1 guidance may be tepid, analysts set the bar high, and growth is expected to continue under the influence of AI for many years.

Competition and geopolitical risks exist, but AMD’s strategic pivot, open-source ROCm, and cost efficiency bolster the company's ability to capture long-term AI growth.

Corporate America just kicked off a new quarterly earnings season. Over the next few weeks, hundreds of companies will report their latest financial results, but Wall Street will be most focused on those leading the artificial intelligence (AI) race.