AMD fell 13.08% to $424.85 in Thursday morning trading, extending a second day of chip and AI-linked selling after the Democratic midterm sweep, with no major company news. The drop came two days after a strong quarter in which non-GAAP EPS of $2.09 beat the $1.94 consensus and revenue reached $13.377B. The article says AMD held a 5.63% weight in the VanEck Semiconductor ETF (SMH), accounting for about 0.74 percentage points of that fund's 7.04% decline, while the Invesco QQQ Trust held 4.10% of its net assets in AMD, roughly 0.54 points of drag. It notes that investors holding both a core index fund and a chip ETF can own the same stocks twice, so those positions tend to fall together.
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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