Advanced Micro Devices (AMD) Stock Plummeted 13% Last Week. Should You Buy the Dip Before Nov. 3?
Recent events suggest funding is getting harder to come by for some artificial intelligence (AI) companies. Two weeks ago, Australian data center company, Firmus, cancelled its initial public offering (IPO) due to a lack of investor demand. Moreover, financing costs are soaring for data center operators like CoreWeave. To top things off, Anthropic could face a $500 billion reduction to its expected valuation when it eventually goes public.
This is all bad news for the semiconductor industry, because it could reduce demand for data center chips and components. As a result, Advanced Micro Devices (NASDAQ: AMD) stock plunged by 13% last week alone, as investors started pricing in a potential slowdown in sales growth.
But AMD is scheduled to release its operating results for the third quarter of 2026 (ended Sept. 30) after the market closes on Nov. 3, and if the company puts some of the recent concerns to bed, its stock could stage a powerful recovery. So, should investors buy the recent dip ahead of the report?
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.