AMD and Intel each dropped 5% and NVIDIA slipped 3% on Tuesday as a 10% retreat in South Korea's KOSPI index rattled supply chains linking U.S. chipmakers to Korean memory suppliers. Wedbush's Dan Ives and Morgan Stanley's Andrew Slimmon both dismissed the rout as profit-taking needed to flush out momentum speculators, with Slimmon calling it 'healthy' and 'good for the markets.' AMD grew its revenue 38% year-over-year last quarter to $10.25 billion, while NVIDIA's revenue rose 85% to $81.6 billion, giving bulls fundamental cover to treat the selloff as a buyable dip. The selling was broad-based, with the tech-heavy NASDAQ 100 off 1.4%, and Polymarket participants assigned a 99% probability that NVIDIA stock would close lower on the day.
Advanced Micro Devices Inc
NVIDIA Corporation
Intel Corporation
Morgan Stanley