AMD and SMCI both sport notable pre-market leads
Semiconductor stocks are bouncing back, after President Donald Trump’s reciprocal tariff update notably exempted the sector. The move gave chipmakers some breathing room in an otherwise tense trade environment, with giants Advanced Micro Devices Inc (NASDAQ:AMD) and Super Micro Computer Inc (NASDAQ:SMCI) leading the charge.
Advanced Micro Devices stock is up 4.4% at $97.51 ahead of the open, but still has plenty of ground to recover. Tariff pressure has taken a toll on AMD in 2025, culminating in a 22.7% year-to-date loss and a 48.6% deficit over the last nine months. While AMD attempted a bounce earlier this month, the rally stalled just above the $110.50 area -- home to its 80-day moving average, which continues to act as a ceiling.
Adding to the technical pressure, Citigroup just lowered its price target on AMD to $100 from $110. The stock’s average 12-month price target sits at $144.77 -- representing a 55% premium to Friday’s close -- leaving ample room for more bear notes to come through.
Super Micro Computer stock, meanwhile, is up 5.8% premarket at $35.08. The stock has managed to shake off recent tariff-related jitters, boasting an 8.8% gain in 2025 after snapping a three-week losing streak. Technical headwinds remain, though, with shares still grappling with resistance from several key short- and long-term moving averages. The equity is also nursing a steep 12-month loss of 64.6%.
It's worth noting short sellers have been piling on SMCI, with short interest up 12.9% in the last two reporting periods. The 116.19 million shares sold short now make up 22.8% of the stock's available float. Should some of this pessimism begin to unwind, the stock could surge even higher.