Aug 1 – Advanced Micro Devices (NASDAQ:AMD) saw its stock slip 1.8% to $176.3 on Thursday, snapping a six?session winning streak. The decline follows a 13% surge over the prior six days and a 49% year?to?date gain, as investors locked in profits after the sharp AI?driven rally.
AMD recently captured attention after Wccftech reported that the company is considering raising the price of its Instinct MI350 AI accelerator from $15,000 to $25,000. Even at the proposed higher price, the product remains cheaper than Nvidia’s (NASDAQ:NVDA) Blackwell B200, highlighting AMD’s aggressive play in the AI hardware market.
Analysts point to AI product launches, a reversal of China export restrictions, and hyperscaler demand from companies like Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) as key drivers behind AMD’s recent strength.
Even after Thursday’s pullback, momentum for AI semiconductors remains strong, and investors continue to watch whether AMD can maintain its edge in the face of Nvidia’s dominant market presence.
This article first appeared on GuruFocus.