Advanced Micro Devices Inc (AMD · NASDAQ)

AMD shares fell 6% to $528.75 on October 16 amid a broad semiconductor selloff driven by AI infrastructure spending concerns and rising Treasury yields, leaving the stock down 13% over five days and 18.6% below its 52-week high, though still up 34.1% versus its 200-day moving average. The pullback comes despite strong fundamentals: revenue rose 50.1% year-over-year to $41.31B TTM, earnings grew 159.5%, and the company beat estimates in all of its last four quarters, including the most recent at $1.66 versus $1.35 expected. Quarterly revenue climbed sequentially to $11.54B in the June quarter from $10.25B in March, with operating income rising to $1.99B from $1.48B. The balance sheet remains lightly levered with $4.28B in total debt against $5.09B in cash, and the June quarter generated $1.56B in free cash flow.