AMD Shares Drop 6.5% on Global Chip Selloff After Broadcom Miss, Jobs Data

Shares of Advanced Micro Devices Inc. (NASDAQ: AMD) tumbled 6.5% on June 5, 2026, as a global semiconductor selloff swept markets. The rout was sparked by Broadcom Inc.’s guidance miss, which reset expectations for hyperscaler AI chip spending, and a stronger-than-expected U.S. jobs report that diminished near-term rate-cut hopes. South Korea’s Kospi index fell 5.5%, with Samsung Electronics down 6.4% and SK Hynix plunging nearly 10%. European names followed: ASML Holding NV dropped 3.8%, and Infineon Technologies AG lost more than 6%. The Labor Department’s report of 172,000 new payrolls in May introduced the risk of a year-end rate hike, according to CME FedWatch, weighing on richly valued chip stocks. The decline pared some of AMD’s recent gains; the stock remains up 116% year-to-date. Two weeks ago, shares rose 4.7% after the company confirmed it was ramping up production of next-generation “Venice” CPUs and announced a $10 billion investment in Taiwan’s AI supply chain, drawing analyst upgrades.