Why did AMD stock drop 17% today?

The slide followed a Q1 revenue outlook that lagged bullish AI expectations, overshadowing a Q4 beat. Investors questioned near-term data center momentum, mix quality, and the timing of large deployments. AMD stock today reflects a sentiment reset, with markets waiting for clearer order visibility and margin support into the first half of 2026.

What is the MI400 GPU and why does it matter?

MI400 is AMD’s next data center accelerator family after MI300. It is viewed as a key 2026 catalyst, with potential OpenAI-linked deployments and broader customer ramps. If MI400 hits schedules and wins early lighthouse deals, it could re-energize revenue growth, support margins, and improve confidence in the multi-year AI chips demand story.

Should Hong Kong investors buy the dip now?

Consider a staged approach. The technical picture is neutral and volatility is elevated. Wait for confirmation on orders, guidance improvements, and MI400 timing. Size positions modestly, use limit orders during U.S. hours, and reassess after management updates. AMD stock today is headline-sensitive, so discipline and risk controls are essential.

What near-term catalysts should I watch in 2026?

Focus on guidance revisions, large customer purchase orders, and supply updates. Track MI400 program milestones, early customer qualifications, and deployment timetables in the second half. Also watch margin trends and software ecosystem progress that enable faster adoption. Each data point can shift sentiment and valuation quickly in 2026.

Global Market Insights

AMD Stock Today: February 5 — 17% Plunge on Soft AI Guide, MI400 in Focus

ByDanny Kontos February 5, 2026February 5, 2026

Shares of AMD slid about 17% on 5 Feb after a Q4 beat paired with a softer Q1 AI outlook. AMD stock today reflects a reset in near-term data center growth hopes as the market weighs MI300 traction and the path to MI400. For Hong Kong investors, the swing underscores how AI chips demand, customer deployments, and guidance shape valuations. We outline the guidance debate, what CLSA flagged on MI400 and OpenAI-linked demand, plus a quick technical read and action points.