AMD closed at $507.93 on October 22, down 8.10% after Lam Research (LRCX) said supply constraints held down its guidance, a drop larger than the 6.72% fall in the Philadelphia Semiconductor Index. The stock was 21.79% below its October 6 record close of $649.42. The article attributes the decline to a lower multiple rather than to estimates: AMD's NTM P/E fell from about 55x to about 46x between September 30 and October 22, while NTM normalized EPS held near $11. The main risk it identifies is the timing of rack-scale shipments, since delays would cut the estimates the model starts from. AMD reports third-quarter results on November 3 after the close.
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
QQQ
• NeutralInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.39 |
| Change that session | -0.01% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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