New York, Jan 24, 2026, 18:34 (EST) — Market closed
- AMD shares ended Friday 2.3% higher, closing at $259.68 following a choppy session in chip stocks
- Intel’s dim forecast and ongoing supply issues sparked another round of sector rotation in semiconductors
- Upcoming triggers: Fed meeting set for Jan. 27-28, AMD reports earnings on Feb. 3
Shares of Advanced Micro Devices (AMD.O) rose 2.3% on Friday, closing at $259.68, marking a second day of sharp moves sparked by major news in the chip sector. U.S. markets will remain closed over the weekend and resume trading on Monday.
The shift is crucial now as the AI surge faces a sterner test: earnings. “We feel pretty good about where we are today,” said Jason Blackwell, chief investment strategist at Focus Partners Wealth, while cautioning about the year’s anticipated volatility. Julian McManus, portfolio manager on Janus Henderson’s Global Alpha Equity team, described the current phase as a “show-me” moment, with revenue growth needing to justify the recent stock gains. 1
Friday’s trigger came from Intel’s reset, prompting investors to reconsider which players can meet growing data-center chip demand. Intel admitted it’s struggling to keep pace despite factories running at full tilt. CFO David Zinsner noted supply issues hit their worst in Q1 but should ease by Q2. 2
Just a day before, the focus was on costs rather than CPU shortages. Reuters highlighted how AI data-center expansions are gobbling up global memory-chip inventories, driving prices higher and potentially dampening demand for PCs and smartphones. AMD shares slipped 1.2% on Thursday. Jacob Bourne, an analyst at eMarketer, warned the shortage would “show up as higher prices for consumers.” 3
AMD makes processors for PCs and servers and is aggressively expanding into data centers with AI accelerators—chips designed to boost machine-learning tasks. This puts AMD head-to-head with Intel in CPUs and Nvidia in the high-end AI computing space. 4
Monday’s session will test whether Friday’s rally can hold or if the market will quickly retreat, refocusing on costs instead of market share battles. The stock has proven it can react strongly to peer earnings and any signals about AI spending.
Midweek brings another risk point: the Federal Reserve’s policy meeting on Jan. 27-28. It has the potential to shake up rate expectations and hit valuations of tech stocks reliant on growth. 5
AMD announced it will release its fiscal fourth-quarter and full-year 2025 earnings on Feb. 3, following market close, with a conference call scheduled for 5 p.m. EST. Investors are focused on updates about data-center demand and if component shortages and pricing pressures continue to impact the client PC segment. 6
The setup works both ways. Should the memory crunch push end-device prices up, cooling demand could quickly tighten chip order books. With expectations already elevated heading into early February, a cautious forecast might slam the stock harder than normal.
Key dates ahead include the Fed’s January 28 decision and AMD’s earnings report on February 3. Until those arrive, expect AMD’s trading to stay volatile, driven by Intel’s supply story and the mood set by major U.S. tech earnings next week.
