AMD shares fell about 13% to $424.36 in morning trading, NVIDIA dropped 7% to $186.81 and Intel slid 8%, as chip stocks sold off on fears that tighter AI rules could follow the midterm elections. Democrats won both chambers of Congress, and Rep. Yassamin Ansari called on November 4 for a pause on advanced AI development until adequate regulations are in place, raising the risk of slower data center buildouts. The article notes AMD had just reported Q3 2026 revenue of $13.38 billion, up 44.7% year over year and above the $13.08 billion consensus, with Data Center revenue up 97% to $8.55 billion and Q4 guidance of about $17 billion. Traders are weighing whether election fears, valuations or sector pressure explain the drop, while NVIDIA's slide reflects concern about infrastructure spending and GPU demand, and Intel and Broadcom also fell less than AMD.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
NVDAAMDmidterm electionsregulationsemiconductorsQQQ
Open a keyword to see other news on the same topic.
Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Micron, Nvidia, and AMD lead chip stocks rebound
Semiconductor stocks rose in premarket trading on Tuesday, with the PHLX Semiconductor Index (^SOX) higher. Micron gained 4%, partly reversing Monday's 7% drop, while Nvidia and AMD rose 2% and 4%. AMD recovered some of its 7% loss from the prior session ahead of quarterly results due after Tuesday's close. Intel rose 4% after an 8% drop on Monday. According to Yahoo Finance calculations, chip and memory stocks have lost about $3.7 trillion in market value since Oct. 6. The article links the sector's recent weakness to concerns over AI spending and neocloud debt.
- Arm and AMD Fall 5% as Qualcomm Verdict Adds to Chip Selloff; Taiwan Semiconductor Slips
Arm Holdings (ARM) fell 5% to $232.22 and AMD dropped 5% to $534.29 after a Delaware federal jury found on Tuesday that Arm breached its chip architecture license agreement with Qualcomm. Jurors also found that Arm interfered with Qualcomm's customer relationship and violated California's unfair competition law, though Arm won a separate technology licensing claim. Taiwan Semiconductor (TSM) slipped 2% to $412.45, while the iShares Semiconductor ETF (SOXX) fell 3% and the Invesco QQQ Trust (QQQ) fell 2%. Closing arguments in a bench trial over Arm's licensing of its newest architecture are scheduled for next week, and the article says that ruling could deepen pressure on the chip sector.
- Intel and AMD Drop 3% as Rotation Out of AI Chip Stocks Continues; NVIDIA Holds Steady
Intel fell 3% to $92.60 and AMD fell 3% to $544.74 in morning trading as investors continued rotating out of AI chip stocks over doubts about how AI infrastructure spending will be financed. The iShares Semiconductor ETF fell 2% and the Invesco QQQ Trust 0.9%, while NVIDIA rose 0.4% to $218.10. The article says Intel's revenue is recovering, with its CEO calling growth its strongest in many years and gross margin improving sharply, but its foundry unit still posts a large operating loss from heavy manufacturing spending. AMD, by contrast, outsources production and relies mainly on its data center business for most of its revenue. The author suggests shareholders, especially of Intel, consider keeping position sizes modest until the foundry question is resolved.
- S&P 500, Nasdaq Recover From AI Rout On US Midterm Election Day — META, AAPL, AMD, SKHY In Focus
The S&P 500 and Nasdaq closed higher on Tuesday as tech and chip stocks recovered ahead of the US midterm election results. The S&P 500 rose 0.4%, the Nasdaq 100 gained 0.7%, and the Dow Jones Industrial Average eased 0.4%, while semiconductor ETFs rose between 2% and 2.5% on strength in Nvidia, AMD, Micron and Broadcom. Apple shares dropped about 2% after its quarterly margins and sales failed to impress investors. AMD reported a 45% jump in third-quarter revenue to a record $13.4 billion, driven by demand for AI processors and data center chips. Prediction-market odds of almost 75% that Democrats win the Senate could affect regulatory oversight in defense, AI and healthcare.
- NVDA vs AMD: which stock has the better bounce setup
The article argues NVIDIA (NVDA) offers the better short-term rebound setup, not because its trend is healthy but because AMD shows heavier damage and volatility. As of 10:25 AM EST, NVDA was down 7.56% at $185.01 with a daily RSI of 26.9, while AMD fell 14.77% to $416.58 with an RSI of 31.1; AMD's daily ATR of $33.90 is nearly five times NVDA's $7.04. For NVDA, a recovery above $195.18–$197.65 would be the first sign buyers are regaining control, while a break below $190.63 risks a slide toward the weekly $177.97 area. For AMD, the daily S3 near $434.70 sits above the current price, with $416.00–$417.00 acting as immediate but unvalidated support and weekly support near $384.64; the article notes the recent earnings beat has not protected the price in today's session.
- AMD Faces Nvidia Software Hurdle, While Intel Could Reclaim PC Market Share, Morningstar Says
Morningstar raised its fair value estimate for AMD to $570 from $530 and kept a 'fairly valued' rating, while Nvidia and Intel retained 'undervalued' ratings with price targets of $570 and $85. The fair value estimates imply potential upside of around 50% for Nvidia, 40% for Intel and 18% for AMD, though AMD fell as much as 2.6% in pre-market trading. Analyst Brian Colello said AMD needs better software to challenge Nvidia's AI dominance, while Intel remains the PC CPU leader and could recapture most of the market if it improves manufacturing. Morningstar expects AMD's server CPU revenue to grow more than 100% in 2027, and its AI GPU revenue to rise from $7.4 billion in 2025 to just under $17 billion in 2026. The key risk cited is that rising memory costs could stunt PC production and demand for AMD's PC CPUs in 2027.
Related markets
Latest news
- Federal Reserve Board announces termination of enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc
On November 5, 2026, the Federal Reserve Board announced the termination of its enforcement action against Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, all based in Irvine, California. The written agreement dated February 24, 2021 was terminated on October 21, 2026.
- Are Big Tech stock buybacks officially dead?
A speaker argues that free cash flow at hyperscalers such as Alphabet, Amazon, Meta and Microsoft remains a key market concern, as these companies have invested heavily in AI infrastructure and sharply cut stock buybacks. Citing the Kobiasi team, he says buybacks by these firms totaled only $4.4 billion in the third quarter, far below their recent levels. The group's share purchases have reportedly dropped 90% from a peak of $45.9 billion in the fourth quarter of 2021. He notes buybacks are not mandatory and have historically propped up earnings and stock prices, and that companies are now tightening their buyback programs.
- QQQ key support and resistance levels to watch
Invesco QQQ Trust (QQQ) fell 4.39% to $661.58 as of 10:20 AM EST on November 5, 2026, with the daily technical gauge at Strong Sell and an RSI of 29.7, signaling oversold momentum rather than a confirmed reversal. Immediate support sits at $660.85, today's intraday low, and $657.34, a weekly support level; a break below $657.34 would expose the $631.22–$626.46 zone. Resistance begins at $672.82–$673.91, followed by $680.44–$683.34 and $693.81–$700.03, with a move above $700.03 improving the short-term structure and $716.62 challenging the broader bearish setup. Price is below every major daily moving average, and the daily ADX of 31.3 with negative DI at 44.6 versus positive DI at 16.6 indicates strong downtrend momentum. The article notes deeply oversold indicators could still produce a sharp relief bounce, though oversold conditions can persist during liquidation.
- China's Moonshot AI seeks Nvidia Blackwell access in Europe, CNBC reports
According to CNBC, Chinese AI startup Moonshot AI, known for its Kimi model family, has explored leasing European data center capacity to gain remote access to NVIDIA's Blackwell processors. Discussions with European neocloud providers focused mainly on inference clusters of 8,000 or more Blackwell GPUs, though training capacity was also considered. The talks follow White House claims in July that Moonshot had remotely tapped Blackwell systems in Thailand, while current U.S. export controls ban physical shipments of top-tier accelerators to China but leave cross-border cloud leasing largely outside regulation. European operators have sought 30% to 50% more upfront payment from Moonshot than from non-Chinese clients to offset regulatory risk, and the House passed the Remote Access Security Act in January, which now awaits Senate action. According to the Financial Times, NVIDIA has told cloud partners to allocate at least 51% of their capacity to non-Chinese customers.
- Meta Has a Capex Guardrail That Few Talk About
Meta plans to spend $135B to $145B on capex in 2026 and has taken a $9.89B charge to settle teen mental health litigation. Management still expects 2026 operating income, excluding the legal charge, to exceed 2025's $83.28B, which the author views as a limit on spending. The company kept paying its $0.525 quarterly dividend even though Q3 free cash flow was -$2.12B. Q3 revenue rose 26.1% to $64.60B. The author kept buying after the stock fell 15.08% over the past month, while noting $18.59B in total teen mental health litigation exposure.
- AppLovin’s Surge Is a Rare Bright Spot for Growth ETF Holders
AppLovin shares rose 31.84% to $358.28 in the regular session while most of tech fell, and the Invesco QQQ Trust was down 4.13%. Q3 revenue reached $2.18 billion, up 55.5% year over year, and GAAP diluted EPS was $4.30 against a $4.03 consensus. Q4 revenue guidance is $2.365 billion to $2.395 billion. The author estimates that AppLovin's 0.68% weight in QQQ adds only about 0.22 percentage points to the fund's return. The article also warns of overlap risk, since funds such as QQQ and VUG often hold the same large-cap names.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.