TLDR
- AMD stock fell 6.5% in premarket trading Friday after Intel’s weak guidance.
- Intel dropped 25% after projecting a roughly 20% sequential revenue decline in Q4.
- Intel said the PC inventory correction could last into the first half of 2027.
- Amazon’s higher capital spending and slow e-commerce growth added pressure on Nasdaq futures.
- AMD reports earnings on November 3.
AMD (AMD) stock fell 6.5% in premarket trading on Friday. The drop followed a sharp selloff in rival Intel (INTC), which fell 25% after it issued fourth-quarter guidance well below Wall Street expectations.
Advanced Micro Devices, Inc., AMD
Intel projected revenue would drop about 20% from the third quarter. That pointed to a weak PC market heading into the end of the year.
The forecast landed hard because Intel had just posted third-quarter earnings that beat expectations. Investors looked past the good quarter and focused on what comes next.
BREAKING: Intel stock, $INTC, extends losses to -27% on the day, now on track for its biggest daily loss since 1974.
This puts the stock down -53% from its June 30th record high.
That’s -$400 billion of lost market cap. pic.twitter.com/HpQbJzNQiu
— The Kobeissi Letter (@KobeissiLetter) October 30, 2026
Intel also said the inventory correction in the PC industry could run into the first half of 2027. That is a longer stretch of weakness than many had expected.
Analysts may now cut their estimates for the sector. Companies tied to PC demand are likely to face the most scrutiny.
AMD competes directly with Intel in PC processors, so traders treated the news as a warning sign. Intel’s numbers do not necessarily say anything about AMD’s own results, but the market did not wait to find out.
Intel’s Guidance Sets the Tone
The selling spread across semiconductor stocks. Investors worried that the same demand problems could show up in AMD’s numbers.
Extended inventory adjustments can slow new orders. That can hold back revenue growth until buying picks up again.
For AMD, the questions center on client processor demand and when a wider recovery might arrive. How much of Intel’s trouble applies to AMD will depend on AMD’s own sales and competitive position.
The weak Intel report was not the only drag. Tech stocks also faced pressure from Amazon (AMZN).
Amazon reported higher-than-expected capital spending. It also posted its slowest growth in core e-commerce operations in three years.
Those results weighed on Nasdaq futures. Investors are asking harder questions about how much money big tech is pouring into AI infrastructure and when it will pay off.
What AMD Investors Will Watch Next
AMD is due to report quarterly results on November 3. The report will show whether the chipmaker is seeing the same pressure as Intel.
Investors will look for comments on PC processor demand. They will also listen for anything management says about inventory levels across the industry.
The premarket drop suggests expectations have turned more cautious. Traders appear to be pricing in some risk before the numbers arrive.
AMD’s guidance will matter as much as the quarter itself. It should help show whether Intel’s outlook is a company problem or an industry one.
With AMD down 6.5% and Intel down 25% in premarket trading, sentiment toward PC-related chip stocks has weakened. AMD reports on November 3.
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