TradingKey – Shares of Advanced Micro Devices (NASDAQ: AMD) were changing hands at $516.55, down 8% from Monday’s closing level of $552.05, following Samsung Electronics’ preliminary second quarter earnings for 2026. Samsung reported preliminary second-quarter 2026 operating profit of $58 billion, surging 19 times from the year-ago period and beating out Wall Street estimates.

Despite the strong report, chip stocks slumped after a strategist at Deutsche Bank commented that the figure just exceeded consensus by about 6%, leading to speculation by some investors that chipmakers that bet big on artificial intelligence won’t be able to exceed already lofty expectations. In the US, chip maker Intel dropped 10%, while AMD slumped 8% and…