AMD stock drops over 7% as Intel outlook hits semiconductor sentiment
AMD is under heavy pressure as Intel’s weak outlook deepens concerns across the semiconductor sector. The next test is whether buyers can defend $500 after the stock opened with a gap of more than 7%.
519.58
578.75
The main catalyst behind AMD’s decline was Intel’s quarterly report, released after the market closed on October 29. Although third-quarter results were strong, the company’s outlook fell well short of analyst expectations, raising fresh questions about the strength of semiconductor demand.
The negative reaction quickly spread across the sector. Selling pressure was amplified by growing investor skepticism over whether the enormous sums being spent on AI infrastructure will generate sufficient returns.
A move below $528 keeps the bearish scenario intact
The scenario from the previous analysis played out only partially. AMD came close to the $585 target, reaching roughly $580 before reversing.
In premarket trading on October 30, the stock is down more than 7%. Trading against the direction of such a large gap carries considerable risk, so the base case remains a continuation of the correction toward psychological support at $500.
A recovery and sustained move above $528 would invalidate this scenario. In that case, the next target would be $540.
Capital rotation signals a shift away from AI stocks
The AI sector is facing intense pressure. A similar selloff had already appeared in South Korea, and signs of fading enthusiasm for AI-linked stocks are now becoming increasingly visible in the U.S. market as well.
Investors, however, do not appear to be abandoning equities altogether. Instead, capital is rotating into other parts of the market.
Financial and healthcare stocks strengthened as technology names fell, pointing more toward a shift in market leadership than a broad-based retreat from risk.
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