NEW YORK, Jan 20, 2026, 10:17 EST — Regular session
- After an early drop of over 4%, AMD shares clawed back to gain roughly 1%
- Markets shifted to “risk-off” mode after Trump’s tariff threat linked to Greenland rattled sentiment
- Traders are gearing up for Intel’s earnings on Jan. 22, with AMD’s report due Feb. 3
Shares of Advanced Micro Devices (AMD.O) climbed 0.9% to $233.92 on Tuesday, bouncing back after tumbling roughly 4.5% earlier in the session. The stock has been notably volatile, reacting sharply to every development in the AI-chip sector.
The bounce followed a sharp selloff after U.S. President Donald Trump warned of new tariffs targeting several European nations amid a spat over Greenland. The Dow dropped 1.2%, the S&P 500 was down 1.3%, and the Nasdaq fell 1.6% in early trade. Meanwhile, the CBOE Volatility Index hit a two-month peak. “We’re getting the weakness because the headlines are going to drive angst and concern about what the future holds,” said David Lundgren, chief market strategist at Little Harbor Advisors. 1
Chip stocks matter here since they’re caught between global trade moves and corporate budgets. Semiconductors usually take the initial hit when markets shift from growth hope to fear — only to be snapped up again almost immediately.
The sector showed a mixed picture. Nvidia (NVDA.O) slipped 3.4%, and the iShares Semiconductor ETF (SOXX.O) dipped 0.2%. Intel (INTC.O), however, surged roughly 5%.
“Markets at this point are expected to reopen this week in ‘risk-off’ mode,” said Tony Sycamore, a market analyst at IG. Risk-off means traders are moving toward safer assets and pulling back from riskier stocks. 2
AMD’s volatile session highlights just how fast sentiment can shift when macro news hits a stock already priced for big things. The company is now a go-to barometer for AI accelerators — those specialized chips driving AI model training and operation — as well as data-center server processors.
Intel is set to release its quarterly earnings after the market closes on Thursday, Jan. 22, offering investors an early glimpse into chip demand. 3
Next up is AMD. The chipmaker plans to release its fiscal fourth-quarter and full-year 2025 results on Tuesday, Feb. 3, after the market closes. A conference call will follow at 5:00 p.m. EST. 4
The risk lies in tariff threats solidifying into actual policy, cutting into tech spending or keeping investors cautious for longer than anticipated. Even if no new restrictions come through, a wider slowdown in AI infrastructure demand would slam the most crowded trades first.
Next in line are Intel’s results on Jan. 22, followed by AMD’s report on Feb. 3 — the nearest catalysts in a market that’s reacting to every headline.
