"I think the mining market is substantially smaller than the high end gamer market. If I'm not mistaken many gamers come down on the side of nvidia. "
Maybe there'll be an unexpected profit coming for AMD from gamers switching brands. If I were buying high end gaming cards now, I would want to dual purpose with some pool mining. Now whether that moves the stock price, more may depend on the US dollar..
That is how I feel. I built my computer as a miner with the hope of subsidizing the cost. Depending on the price of bitcoins it may even pay for itself. Its ultimate destination is a media center PC. I'll sell the cards and get a more reasonable one for the role it will be filling when I'm all done.
On a side note, I made some money in a short play on AMD. It does appear somewhat undervalued. However, I have heard that 80% of stocks move with the market regardless of fundamentals. Like I said it is always tough finding the bottom as an individual investor.