Advanced Micro Devices Inc.
The decline outpaced the Technology sector's 2.7% drop and came as the S&P 500 fell about 1%, with investors pulling back from higher-risk technology names.
Supply Constraints Weigh On Chip Sentiment
Lam Research Corp.
Lam still posted a record 40.2% operating margin and guided December-quarter revenue to $8.2 billion-$9.0 billion, compared with the $8.53 billion consensus estimate.
The company also said China accounted for 35% of September-quarter revenue, up from 26% in June, but expects that contribution to "decline significantly" in the December quarter.
Susquehanna Raises AMD Price Target
Susquehanna analyst Christopher Rolland maintained a Positive rating on AMD and raised his price forecast to $620 from $550.
However, the firm expects below-seasonal second-half client results for AMD and Intel Corp. (NASDAQ), citing PC builds that are tracking below expectations.
AI Spending Keeps Long-Term Focus Intact
Recent updates from Super Micro Computer Inc.
AMD stock gained more than 140% in 2026, supported by the company's shift toward AI data centers and commitments from major hyperscale customers.
Investors also remained cautious ahead of economic data and the Federal Reserve's rate decision, as higher borrowing costs could weigh on technology spending and semiconductor valuations.
Top ETF Exposure
The Defiance Inference AI Chip ETF
The Invesco AI and Next Gen Software ETF
Because AMD represents a meaningful portion of these funds, significant ETF inflows or outflows can translate into corresponding buying or selling activity in AMD shares.
AMD Price Action: Advanced Micro Devices shares were down 8.08% at $508.05 at the time of publication on Thursday, according to Benzinga Pro data.
