AMD tests key support as AI profit-taking accelerates
AMD shares have come under heavy pressure as the selloff across the semiconductor sector continues.
The primary driver remains profit-taking in the AI sector's strongest-performing stocks. According to Barron's, the selling pressure has affected AMD, Nvidia, Micron, Intel, and other semiconductor companies.
Investors are becoming increasingly cautious about the sustainability of AI infrastructure spending after the prolonged rally in chipmakers.
For now, however, the move appears to reflect capital rotation and profit-taking rather than weakening demand for AI chips. The selloff has been driven primarily by hedge funds and quantitative strategies reducing positions, as well as growing concerns over the scale of future investment in semiconductor manufacturing.
AMD tests key liquidity zone after $500 breakdown
The previously outlined scenario has played out in full. AMD shares broke below the short-term ascending trendline and fell through the psychological $500 level. The 50-day simple moving average (SMA) near $496 provided temporary support, attracting buyers and allowing the stock to close back above $500.
However, in premarket trading, the stock slipped below this level once again. The next key liquidity zone lies between $469.50 and $481. After four consecutive losing sessions, the probability of a short-term technical rebound from this range has increased.
If such a rebound materializes, $500 is likely to become the next upside target over the coming trading sessions.
If buyers fail to stabilize the price within the $469.50–481 range, the next significant support will be the Gap-Up formed on May 21, 2026, at approximately $452.36.
AMD faces rising profit-taking
Following its strong rally, AMD has become increasingly vulnerable to profit-taking as investors reduce exposure to the AI sector. Four consecutive sessions of declines increase the likelihood of a short-term rebound, but they do not yet confirm that the current correction has come to an end.
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