Advanced Micro Devices Inc., the perennial underdog to Intel Corp., just completed its first profitable year since 2011 as the chip maker’s turnaround showed actual results, but 2018 will be even more important.

AMD’s stronger-than-expected fourth quarter included a huge 60% jump in revenue in its compute and graphics business, due to its new Ryzen and Radeon chips in desktop PCs, laptops and Macs. Total revenue jumped 34% to $1.48 billion, boosting full-year revenue to $5.33 billion for growth of nearly 25%.

“2017 marked a key product and financial inflection point for AMD,” Chief Executive Lisa Su told analysts on the conference call. “Our newest wave of high-performance products and consistent execution created significant momentum for our business over the past year.”

Don’t miss: AMD earnings show crypto and PC strength, stock bounces around

Nothing has changed for AMD’s volatile stock, however. After declining for the full year in 2017, even as revenue was growing and the company returned to profitability, AMD AMD, -2.11% shares are up 25% so far in January while the Dow Jones Industrial Average DJIA, -0.87% has gained just 5.5% after a decline in the last two days. That type of uneven performance was evident just in after-hours trading Tuesday. AMD shares jumped to $13.50 after closing at $12.87, then tumbled to $12.05 before roaring back to about $13.

Investors are right to be careful with AMD, as it has previously shown progress in a promised turnaround before eventually lapsing. To avoid such a fate with this effort, Su must maintain the gains in PCs and cryptocurrency mining while busting into the booming market for server chips.

Many investors are focused on how the company is going to fare in the server market, where it hopes to take some share from chip giant Intel INTC, -0.85% , which dominates the data-center market with a nearly 97% stake. Su told investors that the company’s re-entry into the server market “remains on track” and that it is seeing a “steady drumbeat of adoption” with design wins and deployments at many customers of its new Epyc server chips, including its first cloud customer, Microsoft Corp.’s MSFT, -1.24% Azure, for its virtual machine servers.

How machine learning is teaching drones to see for themselves

In 2018, AMD must show continued growth in servers to prove that its initial pilot programs and smaller server deployments can translate into higher volume sales. Su told analysts that 2018 is the “defining year” for its server business and AMD remains focused on “achieving double-digit market share” in servers. AMD’s current server market share would need a microscope for proper measurement.

Opinion: Cryptocurrencies must be a big part of AMD’s road map for competing with Nvidia

In the cryptocurrency arena, which is one reason AMD’s shares have been so volatile, the company needs to show that sales of its chips to cryptocurrency miners will continue to be a solid business, or ensure in some way that a decline in those sales will not hurt its growth. During the call, Su said that it is hard to get an exact number on blockchain-related sales, but said crypto appeared to be slightly higher than her previous estimate of a “mid-single-digits percentage of our annual revenue.”

“It may be a little bit higher than that,” Su said Tuesday. “Let’s call it a point or so, but really a lot of our growth is outside of the blockchain market.”

Read also: At CES, Spectre haunted tech executives in public and private meetings

Lastly, but possibly most important, AMD needs to follow through with Tuesday’s promise to release new chips that are more secure. Su said AMD will release changes to its new processor cores, such as its Zen 2 design, to take into account the microprocessor-security vulnerabilities reported in January. Su said its Zen 2 design is complete and will be sampling to customers later this year.

If AMD accomplishes all these things, the company should be able to confidently say it is in a new era, with sales of its chips for data centers and corporate servers proving that profits could be here to stay. The only question remaining would be if investors would buy in for good and leave the volatility behind.