AMD Jumps 8%, Intel and NVIDIA Climb 5% as Chip Stocks Rebound From Worst Sell-Off Since 2020
After a brutal sell-off wiped out billions in chip stocks, buyers are rushing back in. But the political fear that triggered the rout is still unsettled, and AMD’s bounce may face its toughest test yet.
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Chip stocks are clawing back ground after the semiconductor group’s worst sell-off since 2020, and Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) is leading the rebound. AMD stock is at $437.11, up 8% in morning trading from Thursday’s close. That gain follows a 17% drop for the chipmaker in Thursday’s session. AMD stock is still down 33% over the past month despite the bounce.
Intel (NASDAQ:INTC) stock is at $55.09, up 5%. Thursday’s session brought a 10% slide for the company. Across the past month, Intel stock is down 51%, the largest drop of the five chipmakers covered here.
NVIDIA (NASDAQ:NVDA) stock is at $189.80, up 5%. A 9% decline hit NVIDIA in Thursday’s session. Measured over one month, NVIDIA stock is down 21%. Whether this is a technical bounce driven by tired sellers or the start of a durable recovery for NVIDIA and its peers remains the open question.
What Sparked the Worst Chip Sell-Off Since 2020
The PHLX Semiconductor Index plunged 12% on November 5, its worst sell-off since 2020. Investors sold off artificial intelligence (AI) stocks on concerns that Democratic policymakers could block U.S. data center projects after the Democrats’ midterm win. Growing local opposition to data center construction added to the pressure on AI chipmakers such as AMD.
Selling spread well beyond U.S. chipmakers. The NASDAQ 100 had its worst day since April 2025 as NVIDIA’s slide weighed on the index. South Korea’s Kospi fell more than 6%, its worst day since 2025, as the rout reached Asia.
Seller Exhaustion or a Real Turning Point for AMD?
Sharp rebounds often follow sell-offs this violent, as buyers step into oversold names. Could AMD’s bounce reflect sellers simply running out of stock to sold off? The company’s fundamentals give buyers a reason to look, since AMD disclosed on November 3 that its Q3 2026 revenue rose 44.7% year over year to $13.38 billion, with its Data Center segment up 97%. On the earnings call, CEO Lisa Su noted, “We do have more demand than we have supply.”
However, the policy worry behind the sharp drop hasn’t been resolved. A bounce built on oversold conditions can fade quickly if fresh headlines revive fears about data center limits. AMD’s planning assumption calls for personal computer (PC) market unit shipments to decline by a double-digit percentage in 2027, a drag outside its AI business.
The U.S. added 165,000 jobs in October, far above the forecast of about 70,000 from economists surveyed by Bloomberg, and the unemployment rate ticked down to 4.1%. That background supports risk appetite for chip names like AMD.
Micron and Broadcom Join the Chip Rebound
Memory stocks rank among the strongest rebounders. Micron Technology (NASDAQ:MU) stock is at $709.50, up 8%, matching AMD’s gain. Over one month, Micron stock is down 32%.
Shares of Broadcom (NASDAQ:AVGO) are at $307.65, up 6%. On a one-month basis, Broadcom stock is down 18%, the smallest drawdown of the five chipmakers here.
How AMD’s Business Differs From Intel and NVIDIA
AMD sells both server processors and AI accelerators, pairing its EPYC central processing units (CPUs) with Instinct graphics processing units (GPUs) in its Helios rack-scale systems. NVIDIA’s business centers on data center GPUs and the full systems built around them. That gives AMD a foot in both camps of AI infrastructure spending.
Intel leans on Xeon server chips, a large PC business and a foundry arm that’s still losing money. Broadcom earns much of its AI revenue from custom accelerators and networking, while Micron supplies the high-bandwidth memory that feeds AI chips. The expansion also runs through power, cooling, and networking suppliers that rarely make the headlines (we rounded up seven of them in a free AI infrastructure report). Those differences mean the five stocks can respond very differently once the sector’s panic fades.
What Comes Next for AMD’s Rebound
AMD’s bounce faces its real test after the opening bell. Chip traders can watch for fresh policy headlines on data center projects, since that worry triggered the sharp decline. NVIDIA’s upcoming earnings report stands as the bigger checkpoint for the AI chip trade.
AMD’s surging data center sales and demand that still exceeds supply give bulls their strongest case. Still, a one-day rebound doesn’t settle the data center policy fight that triggered the drop. Investors may want to stay cautious while the data center policy debate remains unresolved.
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