--- title: "What's Going On With AMD Stock Thursday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/300039781.md" description: "AMD stock dipped over 2% in premarket trading as investors took profits following its historic rise past a $1 trillion market cap. The chipmaker joined NVIDIA, Broadcom, and Micron in this elite group, driven by enthusiasm for AI computing and expanding server CPU market share. Despite the pullback, analysts maintain bullish ratings with an average price target of $604, citing strong demand for AI inference capabilities and agentic AI trends." datetime: "2026-09-24T13:31:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/300039781.md) - [en](https://longbridge.com/en/news/300039781.md) - [zh-HK](https://longbridge.com/zh-HK/news/300039781.md) generator: "portal-rs" --- # What's Going On With AMD Stock Thursday? **Advanced Micro Devices** (NASDAQ:AMD) stock fell more than 2% in Thursday premarket trading as investors took profits following a sharp rally that recently pushed the chipmaker above a $1 trillion market value. S&P 500 futures fell 0.6%, adding to the softer backdrop for technology stocks. ## AMD Joins $1 Trillion Chip Club AMD on Monday became the fourth U.S. chipmaker to exceed a $1 trillion market capitalization, following **NVIDIA Corp.** (NASDAQ:NVDA), **Broadcom Inc.** (NASDAQ:AVGO) and **Micron Technology, Inc.** (NASDAQ:MU). The milestone capped a powerful rally driven by investor enthusiasm around AMD’s expanding role in AI computing. Shares gained 185% in 2026 and nearly 300% over the past 12 months. By comparison, NVIDIA gained about 27% over the past year, while Intel returned close to 300%. **Great Hill Capital** Chairman Thomas Hayes told Reuters on Monday that investors were moving back into the AI trade and viewed AMD as representative of that shift during a potential Federal Reserve-driven economic slowdown. ## AI Inference Expands AMD’s Opportunity AMD has gained server CPU market share from Intel as demand grows for processors that work alongside GPUs during AI inference. The company has also expanded beyond individual chips into complete systems that combine processors, networking equipment and related hardware, strengthening its effort to compete with NVIDIA. Investor attention has also turned to "agentic AI," which could increase CPU-heavy inference demand. That theme gained attention after **Meta Platforms, Inc.** (NASDAQ:META) said its Muse personal AI agent ranked as the most-downloaded free **Apple Inc.** (NASDAQ:AAPL) iPhone app in the U.S. for three consecutive days, according to Sensor Tower. AMD still faces high expectations. Its latest revenue outlook exceeded Wall Street estimates but fell short of elevated investor expectations, while markets continue to scrutinize hyperscaler AI spending. **See More: Top Value Stocks** ## Analysts Remain Bullish AMD carries a Buy consensus rating with an average price forecast of $604, ranging from $365 to $730 across 50 analysts. **Piper Sandler** initiated coverage with an Overweight rating and $600 forecast on Sept. 10. **Raymond James** upgraded AMD to Strong Buy and raised its forecast to $641 on Aug. 25, while **BMO Capital** initiated coverage with Outperform and a $550 forecast on Aug. 21. ## AMD Carries Significant ETF Exposure AMD represents 8.74% of the **iShares Semiconductor ETF** (NASDAQ:SOXX), 6.79% of the **First Trust Nasdaq Semiconductor ETF** (NASDAQ:FTXL) and 6.52% of the **Pacer Data and Digital Revolution ETF** (NYSE:TRFK). ## Price Action **AMD Stock Price Activity:** Advanced Micro Devices shares were down 2.21% at $601.00 during premarket trading on Thursday, according to Benzinga Pro data. *Photo via Shutterstock* **Read Also: AMD Says AI Adoption Is Still Early, Sees No Slowdown in Demand** ### Related Stocks - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - [AMDG.US](https://longbridge.com/en/quote/AMDG.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [PIPR.US](https://longbridge.com/en/quote/PIPR.US.md) - [RJF.US](https://longbridge.com/en/quote/RJF.US.md) - [BMO.US](https://longbridge.com/en/quote/BMO.US.md) - [TRFK.US](https://longbridge.com/en/quote/TRFK.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [RJF-B.US](https://longbridge.com/en/quote/RJF-B.US.md) ## Related News & Research - [Nebius hikes AI cloud prices again as demand for computing power soars](https://longbridge.com/en/news/299343391.md) - [3 AI Semiconductor Stocks with More Than 40% Upside and Recent 'Buy' Ratings](https://longbridge.com/en/news/299464643.md) - [AMD Surpasses $1 Tln Market Cap As AI Demand Drives Record Rally](https://longbridge.com/en/news/299684017.md) - [The SOX Squeeze Just Got Real](https://longbridge.com/en/news/299811088.md) - [Apple, Nvidia Eye Major Entry into AI Servers: Report](https://longbridge.com/en/news/299214057.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**