On September 28, Advanced Micro Devices fell 3.45% in regular trading, trading at approximately $608.89/share, with turnover of $22.72 billion. The stock had already declined 2.7% in pre-market trading, reflecting broad semiconductor sector weakness.
The selloff comes as AMD's options market has seen a sustained wave of large bearish activity since the stock first crossed the $1 trillion market capitalization threshold on September 21. Notable transactions include an $8.88 million bear call spread, a $7.50 million bear call spread paired with a $4.92 million long-dated put purchase, and a $1.96 million far-dated bear call spread targeting the $1,120 strike — all signaling institutional conviction that near-term upside is capped. Profit-taking pressure has intensified following AMD's roughly 186% year-to-date rally and 34% gain in September alone.
Sector-wide weakness compounded the decline, with Intel falling 4.39%, Marvell Technology down 2.82%, and Micron Technology sliding 2.09%, while NVIDIA bucked the trend with a 2.98% gain. Although Bank of America recently raised its AMD price target to $720 from $620 and maintained a Buy rating, short-term bearish options positioning and sector headwinds continue to dominate price action.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)