Our Take: AMD Falls 8.8% as a Week-Long Chip Rally Unwinds
By Tech & Money Press · Our Take on Friday’s move in AMD and other chip stocks · November 13, 2026
Advanced Micro Devices closed Friday at $534.06, down 8.8% from Thursday’s close of $585.30, per Webull. It was the sharpest regular-session drop among the large chip and hardware names we checked, and it reversed part of a very fast rally: from the Nov. 5 close of $404.40, AMD had gained 44.7% in five sessions.
The session range was wide. AMD opened at $566.79, traded as high as $571.14 and as low as $520.01, and finished well off the low. Volume was about 49.4 million shares, in line with the heavy turnover of the prior week. After hours the stock was around $521.49. At Friday’s close, Webull put AMD’s market value at about $876 billion, down roughly $84 billion from Thursday’s close.
That still left the stock 32% above the Nov. 5 close. The Nov. 5 low of $402.10 remains the recent trough on the chart; the 52-week high is $658.52, set on Oct. 5.
A rotation reversed
The drop was not isolated. The Nasdaq 100 ETF (QQQ) closed at $679.89, down 1.2%. The S&P 500 ETF (SPY) slipped 0.4% to $754.37, while the Dow ETF (DIA) rose 0.1% to $523.15, per Webull.
Dell Technologies fell 7.2% to $344.53, Cisco 6.2% to $95.64 and Broadcom 4.8% to $347.01, a day after a Rothschild & Co Redburn downgrade that we covered at midday (our take). Applied Materials, which reported results on Thursday, closed down 2.7% at $370.50. Taiwan Semiconductor closed down 1.7% at $398.73. Nvidia fell 2.0% to $162.85 ahead of its fiscal third-quarter report on Tuesday, the first earnings call under interim CEO Colette Kress.
A midday market note from Benzinga put some of these declines at steeper levels than the official closes. We are using Webull’s regular-session closes throughout this article.
For most of this week, money had rotated out of Nvidia and into other chip names after Nvidia’s board began a leadership transition. Friday showed how quickly that trade can unwind. AMD’s five-session rise had taken the stock from a fresh trough to its highest close in weeks; Friday gave back a large piece of that move in one session, without erasing the whole rally.
The Bloomberg report
A Bloomberg report that circulated on Friday added a separate, company-specific thread, especially for Dell. Bloomberg said it reviewed documents showing that 22 Dell servers fitted with Nvidia H800 chips were sold to Aperia Cloud Services, a Singapore-based Nvidia Cloud Partner, and later appeared in filings from a unit of Shanghai Longteng Intelligent Computing at a Shanghai data center. The H800 was restricted from sale to China in 2023.
Dell told Bloomberg it “stopped all sales and support to Aperia International in February 2025 due to unauthorized diversion concerns,” according to accounts of the report in Quartz, Engadget and Benzinga. The filings, Bloomberg said, did not explain how the servers were acquired or whether Alice Huang, the woman at the center of the recent Nvidia investigation, was directly involved; she had stepped away from Shanghai Longteng in 2017, per Bloomberg. The same filings also listed Super Micro Computer servers; Super Micro told Bloomberg those units were sold lawfully under U.S. export rules. Megaspeed, the Singapore firm founded by Alice Huang, has denied wrongdoing, Quartz reported, citing Bloomberg.
We cannot independently verify the underlying documents. The description above is attributed to Bloomberg as relayed by those outlets. We also cannot say how much of Friday’s drop in AMD, as opposed to Dell, was tied to that report versus the broader reversal in chip shares.
What’s Next
Nvidia reports earnings on Tuesday, Nov. 17. That print is the next major test for the sector, and it arrives after a week in which leadership headlines and a crowded rotation both moved prices in a hurry.
On AMD’s chart, $594.00 is Thursday’s high, $534.06 is Friday’s close, $520.01 is Friday’s low and $402.10 is the Nov. 5 low. Those are prior highs and lows from real daily bars, shown as reference points, not as trade signals. Friday’s close is still far above that November trough and far below the Oct. 5 high.
The week’s lesson is simpler than any one level: a five-session, 45% rise can unwind in a single session, and a report about where restricted chips ended up can land on a market that is already on edge.
Advanced Micro Devices (AMD) daily chart with recent highs and lows. Data: Webull.
Disclaimer: This article is for news and educational purposes only and is not financial advice. Price levels are shown as reference points from past trading, not as recommendations to buy or sell. Tech & Money Press is not a registered investment advisor. Trading stocks involves risk, including the loss of your investment. Do your own research and consult a licensed professional before making any investment decisions. For news and education only. Not financial advice.
Sources: Price data from Webull (daily bars and snapshots as of about 8 p.m. ET, Nov. 13, 2026). Bloomberg report as relayed by Quartz, Engadget and Benzinga. Midday Broadcom coverage: Tech & Money Press.