Tldr; AMD's graphics side is going strong and their CPU side has a massive opportunity if the Ryzen architecture works.
AMD drivers get worse over time, making their GPUs effectively worthless. And their current gen CPUs are also effectively worthless due to horrible per-core speeds.
Oh, and the company is in crippling MASSIVE debt and its future is uncertain. There is not a good reason now or in the near future to get anything but Intel / Nvidia products.
Not owning one I can't comment on driver, but the response to the latest AMD GPU's has been very positive, even with the 1000 nvidia lineup giving great price per performance. Their graphics division has gained market share and shows a solid profit. (I would easily say it has been carrying the struggling CPU division). Actually, the fact that Nvidia has released the 1000 series at an amazing price is direct evidence that the AMD GPU's are doing well (see Intel's prices vs AMD's struggling CPU side). Can anyone else comment on the drivers?
The AMD Cpu's have suffered from a series of low performing chipsets since I last bought them (my Athlon 2 was rock solid back in 2009...), but I think AMD has a market opportunity if Ryzen is any good. Everyone knows that Intel prices its CPU's so high simply because they can get away with it - Intel CPU prices have risen in lockstep with AMD's poor performance (exactly as the economics of a poor competition situation predict). If the leaked benchmarks are accurate (I have no idea if they are) then Intel will have to deal with serious competition to even their high end chips at a much lower pricepoint.
Then consider that Microsoft made a deal with AMD to provide chips for the next gen xbox one for late 2017. I'm speculating a bit here, but why would a major company like Microsoft make such a large deal without knowledge that AMD can follow through? Leaked specs are iffy at best, but I strongly suspect AMD showed microsoft a product that could get the job done.
The 3.5 D/E ratio is very high, but I don't think its too bad; at the moment debt is essentially free for large companies - interest rates in the US are barely above 0 at the corporate level. This becomes more concerning if rates rise and the debt it still there in 3-5 years.
The AMD stock price has had an amazing recovery over the past year, with something like a 6x gain. Current predictions are that it is slightly overvalued, with many price point targets about 15% lower than current. However, outliers based on a successful Ryzen architecture predict a 20% gain. No one I could find with a quick search (I know, not very thorough) were predicting a collapse.
In my opinion, if Ryzen works then AMD is actually in a good place. At the very least Intel will have to pull down their pricepoints, which is good for us. If Ryzen flops, then their CPU division will continue its trend of being in trouble, but that doesn't change the pretty good outlook for the graphics cards.