$Advanced Micro Devices (AMD.US)$ has been very successful o...

$Advanced Micro Devices(AMD.US)$ has been very successful over the last half a decade. However, with AMD overtaking Intel in market cap, there is now the risk confidence will morph into overconfidence.AMD bulls are not considering the giant competition they are facing. This poses large risks that are not being priced into the stock.For example, I highlight a substantial risk of AMD losing its console business to the much cheaper Intel Foundry Services option, since cost is critical for consoles.The stock is now expecting growth that simply may not exist. The Xilinx merger has only further diluted shareholders.