🔴 AMD is trading 3.25% down today after CES MI450 announcement fails to sustain momentum amid Intel competitive threats

AMD is trading at $213.89 (-3.25%), reversing earlier premarket gains following its CES 2026 MI450 GPU announcement.

• Market skepticism centers on significant execution risks, including 2nm production complexities, ROCm software maturity concerns, and Intel's aggressive competitive response.
• The stock's extreme valuation at 116.37x P/E (3.4x the NASDAQ average) leaves no room for disappointment.
• Technical indicators show the stock breaking below key resistance levels, continuing the decline seen after closing down 1.07% yesterday.