Advanced Micro Devices (AMD) stock has plummeted amid an industry-wide semiconductor sell-off. Shares crashed to approximately $450 in pre-market trading after closing 8.15% lower on July 28, 2026. Investor uncertainty over rising AI spending and competition from China has driven the decline. Despite the downturn, analysts remain largely bullish. Jefferies set a $640 target, Bank of America raised its target to $620, and Robert W. Baird doubled its estimate to $1,250. Morgan Stanley, however, set a $410 target. AMD reports quarterly earnings on August 4, 2026, with expectations for record revenue and earnings per share.
Advanced Micro Devices (AMD) stock has declined sharply as the broader semiconductor sector experiences a sell-off. Data shows shares crashed to the $450 mark in pre-market trading.
The stock closed 8.15% lower, down 40.33 points, on Tuesday, July 28, 2026. Pre-market trading saw an additional decline of 0.81%, or 3.70 points.
The sell-off reflects investor uncertainty about rising AI-related spending and emerging competition from China. AMD has delivered substantial gains over the past year by capitalizing on the ongoing AI boom.
Despite the recent price decline, several Wall Street analysts have issued bullish price targets. Jefferies revised its stock price target for AMD to $640, while Bank of America raised its target from $560 to $620.
Robert W. Baird doubled its estimate from $625 to $1,250. Morgan Stanley, however, set a price target of $410, representing a potential 9.81% downside from current levels.
AMD is scheduled to release its quarterly earnings report on August 4, 2026. Analysts anticipate another record-breaking quarter with record revenue and earnings per share.
The company recently unveiled its latest AI chips, claiming they can outperform Nvidia‘s offerings. If the earnings report meets bullish expectations, the stock value could see a rebound.
Investors should consider potential risks, including supply chain issues related to the Middle East conflict. Competition from China may also lead to supply disruptions and further sell-offs.
