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Intel and AMD shares drop after big gains as investors take profits in AI chip stocks

Market News
12 May 2026
24/7 Wall Street
View Source
Bearish
pluang ai news

Shares of Intel and AMD fell sharply after both stocks surged over 30% in the previous week, signaling profit-taking among investors. Intel, up 218% year-to-date, saw a 10% drop due to speculative catalysts like rumored Apple deals, while AMD, with confirmed contracts and strong Q1 revenue, declined 5%. The pullback is part of a broader AI chip sector consolidation following rapid price gains that outpaced fundamentals. Market watchers will watch if these stocks hold key support levels to determine if the correction is temporary or signals a deeper shift.

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