AMD shares dropped roughly 10% on June 9, wiping out billions in market value in a single session. The kicker: nothing actually went wrong at AMD.
The selloff was driven entirely by sector-wide contagion after Broadcom’s earnings report delivered a more cautious outlook on AI infrastructure spending. AMD, Intel, and other chip names all got dragged down together, with Intel falling over 8% in the same session.
What actually happened
AMD shares traded in the $446 to $475 range during the session, a steep fall from the stock’s recent peak near $542 earlier in June. For a stock that had more than doubled at various points during 2026, the correction was sharp.
The catalyst was Broadcom’s forward guidance, which tempered the market’s previously sky-high expectations for AI chip demand. Broadcom didn’t say AI spending was collapsing. It just suggested the trajectory might be less vertical than Wall Street had priced in.
