AMD, Micron Selloff Is 'Just the Beginning,' Tom Sosnoff Says

Key takeaways

• The chip rally’s biggest winners are still far from truly oversold; a 25‑35 % decline would signal a significant reset, while Intel is already near oversold.
• NVDA, AMD, MU pullback not yet 25‑35 %
• Intel fell 28.58 % to $65
• Intel trading near $65 on Monday

What happened

Tastytrade founder Tom Sosnoff said the recent pullback in the biggest chip stocks—Nvidia (NVDA), Advanced Micro Devices (AMD) and Micron Technology (MU)—is likely to continue, because the declines so far haven’t reached the 25‑35 % drop he considers truly oversold. He noted Intel (INTC) is already near oversold after a 28.58 % single‑day fall to about $65. Sosnoff expects the market to trade choppy this week, with better buying opportunities around mid‑week when names hit clearer support…

Why it matters

The three chip leaders drive a large portion of the broader market’s gains. If they fall further, the impact on major indexes could be outsized. Sosnoff’s 25‑35 % threshold signals a potential reset for these stocks, which would alter the risk profile for tech‑heavy portfolios.

Short-term and longer-term

Short-term. For the next few days, watch NVDA, AMD and MU for signs of a 25‑35 % drop.

Longer-term. Over the coming weeks, the chip sector’s performance will shape tech‑heavy portfolios.