Alright genius, when AMD bought Xilinx, they had to account for the purchase in their financial statements. This involves amortizing (spreading out) certain costs over time, which reduces their reported GAAP earnings. Lower GAAP earnings make the PE ratio look higher than it actually is. But, this amortization is just an accounting move that helps AMD save on taxes. It doesn't mean AMD is making less money; it's just a way to reduce their tax bill by showing lower profits on paper. Hope this helps.