--- title: "Amd Stock Drops: Why Chipmaker Shares Are Falling Ahead of August Earnings" type: "News" locale: "en" url: "https://longbridge.com/en/news/294087579.md" description: "AMD stock dropped nearly 8% premarket due to anxiety over the AI memory trade, following sharp declines in peers SK hynix and Micron. Concerns about an overcrowded rally and China's DUV lithography progress added pressure. Despite technical weakness below short-term moving averages, analysts maintain a 'Buy' consensus with an average price target of $580.07 ahead of earnings on August 4, 2026." datetime: "2026-07-28T15:15:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294087579.md) - [en](https://longbridge.com/en/news/294087579.md) - [zh-HK](https://longbridge.com/zh-HK/news/294087579.md) --- # Amd Stock Drops: Why Chipmaker Shares Are Falling Ahead of August Earnings **Advanced Micro Devices** **Inc** (NASDAQ:AMD) stock slid by almost 8% Tuesday as the AI memory trade weakness keeps pressure on parts of the semiconductor complex. The latest wobble in AI-linked semiconductors follows another sharp drop in **SK hynix Inc** (NASDAQ:SKHY), which fell 7.47% on Monday, while **Micron Technology Inc** (NASDAQ:MU) is down more than 5% in Tuesday’s premarket session. The move is also being framed by concerns the AI memory rally got overcrowded, plus fresh chatter about China’s progress on deep ultraviolet (DUV) lithography that could lift future supply and competition. Nasdaq futures are down 1.37%, adding to the headwind for higher-beta tech stocks, while S&P 500 futures are modestly down. ## Technical Analysis From a trend perspective, AMD is still extended on longer timeframes: it’s trading 21.8% above its 100-day SMA ($389.62) and 54.5% above its 200-day SMA ($307.09), which keeps the bigger uptrend intact. The near-term picture is choppier, with shares 10.8% below the 20-day SMA ($531.73) and 6.9% below the 50-day SMA ($509.47), so rallies may need to prove they can reclaim those faster trend lines. ## Earnings & Analyst Outlook The countdown is on: Advanced Micro Devices is set to report earnings on August 4, 2026 (confirmed). - **EPS Estimate**: $1.55 (Up from 48 cents YoY) - **Revenue Estimate**: $11.28 Billion (Up from $7.68 Billion YoY) - **Valuation**: P/E of 165.0x (Indicates premium valuation relative to peers) **Analyst Consensus & Recent Actions:** The stock carries a Buy rating with an average price forecast of $580.07. Recent analyst moves include: - **Mizuho**: Outperform (Raises Forecast to $625.00) (July 27) - **Wedbush**: Outperform (Raises Forecast to $600.00) (July 27) - **UBS**: Buy (Raises Forecast to $730.00) (July 24) ## Top ETF Exposure - **iShares Semiconductor ETF** (NASDAQ:SOXX): 8.47% Weight - **ARK Next Generation Internet ETF** (NYSE:ARKW): 8.31% Weight - **Pacer Data and Digital Revolution ETF** (NYSE:TRFK): 8.22% Weight **Significance:** Because AMD carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. **AMD Price Action:** Advanced Micro Devices shares were down 8.37% at $453.50 at the time of publication on Tuesday, according to Benzinga Pro data. _Image via Shutterstock_ **Read Next:** - Intel Stock Is Falling Tuesday: What's Going On? - Why Is Micron Technology Stock Falling Tuesday? ### Related Stocks - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.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) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [MUYY.US](https://longbridge.com/en/quote/MUYY.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.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) - [03121.HK](https://longbridge.com/en/quote/03121.HK.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [ARKW.US](https://longbridge.com/en/quote/ARKW.US.md) - [TRFK.US](https://longbridge.com/en/quote/TRFK.US.md) - [UBS.US](https://longbridge.com/en/quote/UBS.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) ## Related News & Research - [AMD secures up to 2.5 GW of Core Scientific data centre capacity](https://longbridge.com/en/news/294203930.md) - [CORZ Stock Alert: Core Scientific Strikes AI Infrastructure Deal With AMD](https://longbridge.com/en/news/294105050.md) - [CBRS Stock Alert: What to Know as Cerebras Teams Up With AMD](https://longbridge.com/en/news/293768646.md) - [Micron Investors Get Another Reason to Be Nervous](https://longbridge.com/en/news/294237789.md) - [AMD Stock Forecast: Why This Five-Star Analyst Raised the Chipmaker's Price Target by 41%](https://longbridge.com/en/news/293762297.md)