The main reasons for AMD's sharp decline are: Q1 guidance falling short of extremely optimistic expectations, a sudden drop in revenue from old chips in China, and profit-taking under high valuations, not a collapse in fundamentals.

In the long term, the data center and AI chips (MI450, Helios) will ramp up in the second half of the year, and cooperation with OpenAI will advance, so the growth logic remains intact.

Short-term volatility is high, and sentiment is weak, making it unsuitable for heavy positions to bottom-fish.

It is recommended to test the waters with small positions in batches, set strict stop-losses, and wait for volume contraction and stabilization, as well as a recovery in U.S. bond and tech sentiment, before adding positions.