NEW YORK, January 4, 2026, 09:52 ET — Market closed
Advanced Micro Devices (AMD.O) shares closed up about 4.3% at $223.47 on Friday, after trading between $217.01 and $227.05 with roughly 36.4 million shares changing hands.
The move left chip stocks in focus heading into the first full week of 2026, as investors look for a fresh driver after thin holiday trading. “The market is looking for direction,” said Matthew Maley, chief market strategist at Miller Tabak, with traders also watching the U.S. employment report due Jan. 9 and the consumer price index release on Jan. 13. 1
A near-term catalyst is CES in Las Vegas, where CEO Lisa Su is listed for AMD’s keynote on Monday evening, according to the conference schedule. The session is billed as an update on AMD’s artificial-intelligence strategy across cloud, enterprise, edge and devices. 2
Markets ended Friday with a cautious tone: the Dow rose 0.66% and the S&P 500 gained 0.19%, while the Nasdaq slipped 0.03% as Treasury yields moved higher. The benchmark 10-year yield finished around 4.19%. 3
AMD used the run-up to CES to spotlight areas beyond its core PC and server chips. In a blog post on Friday, the company said it would showcase automotive demos spanning driver-assistance systems and digital-cockpit computing, as well as cloud-based development workflows for car software. 4
Rival Nvidia is also on the CES calendar, with CEO Jensen Huang scheduled for a media-focused press conference on Monday afternoon, the show agenda shows. The two companies compete for data-center graphics processors — accelerators used to train and run AI models — where investor expectations have been high. 5
From a chart perspective, AMD’s last close keeps it below a 52-week high of $267.08, while nearby resistance sits around $227 and support around $219, based on Barchart pivot levels. Traders often watch those bands for signs of where buying or selling pressure could build. 6
But CES can trigger “sell-the-news” swings if expectations outrun the detail that companies are willing to share on stage, and chip shares remain sensitive to rate moves. A hotter-than-expected jobs report would likely push yields higher, a headwind for richly valued growth stocks.
Beyond CES, the next company-specific marker is earnings season. Nasdaq’s earnings calendar lists AMD’s next report for Feb. 3, and investors will be looking for updates on data-center momentum and profitability as the company scales AI-related products. 7
The market’s immediate focus, however, is whether the semiconductor bid that helped set the tone for 2026 holds once volumes normalize. Any new signals from large cloud customers on AI infrastructure spending could ripple quickly through chip valuations.
The next test arrives Monday night: AMD said Su will deliver the CES keynote at 9:30 p.m. ET via livestream, giving investors the first major read of the year on how the company frames its AI roadmap. 8
