Artisan Trimmed AMD (AMD) After Its AI-Driven Surge

Yahoo Finance · 2026-09-03

Artisan Trimmed AMD (AMD) After Its AI-Driven Surge Soumya Eswaran Thu, September 3, 2026 at 9:19 AM EDT 3 min read AMD Artisan Partners , an investment management company, released its second-quarter 2026 investor commentary for the "Artisan Global Opportunities Strategy". The letter can be downloaded here . Global equities rebounded sharply during the quarter, with the MSCI ACWI Index returning 15.3% as resilient economic growth, strong corporate earnings, and continued enthusiasm around artificial intelligence supported markets despite persistent inflation, higher bond yields, and geopolitical uncertainty. The portfolio reported strong absolute returns of 12.65% (net) but underperformed the benchmark, mainly because of its underweight exposure to information technology and overweight position in health care. Strong stock selection in technology and energy partially offset these headwinds. The fund continues to see attractive long-term opportunities across AI infrastructure, health care, and consumer internet, while remaining disciplined on valuation as several AI-related stocks have appreciated sharply. Management remains focused on durable franchises with identifiable profit cycles and attractive long-term earnings potential. Also, check the Strategy's top five holdings to see its best picks in 2026. In its second-quarter 2026 investor letter, Artisan Global Opportunities Strategy highlighted Advanced Micro Devices, Inc. (NASDAQ: AMD ) as a notable contributor. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company that designs and manufactures AI accelerators, microprocessors, and graphics processing units. On September 02, 2026, Advanced Micro Devices, Inc. (NASDAQ:AMD) closed at $457.06 per share, reflecting a market capitalization of $746.14 billion. Advanced Micro Devices, Inc. (NASDAQ:AMD) posted a one-month return of -6.59%, while its shares gained 182.50% over the past 52 weeks. Artisan Global Opportunities Strategy stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2026 investor letter: "Our top contributors in Q2 were AMD, Lam Research and Taiwan Semiconductor Manufacturing (TSMC). Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company focused on high-performance computing and AI infrastructure. Shares rose following a strong quarter, with revenue and guidance exceeding expectations, driven by continued strength in data center demand. Management raised its long-term outlook for the server CPU market, reflecting the growing role of CPUs in inference and agentic AI workloads. We continue to believe AMD is well positioned to benefit from increasing compute intensity across AI infrastructure and cloud computing. After adding to the position ahead of the stock's rally, we trimmed our exposure as the valuation moved beyond our reasonable expectations, consistent with our valuation discipline." Advanced Micro Devices, Inc. (NASDAQ: AMD ) ranks 20 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 . As per our database, 164 hedge fund portfolios held Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of the second quarter which was 134 in the previous quarter. While we acknowledge the potential of Advanced Micro Devices, Inc. (NASDAQ:AMD) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . In another article , we discussed Advanced Micro Devices, Inc. (NASDAQ:AMD) and highlighted Tiger Global's Q2 strategy shift, reducing Alphabet Inc. (NASDAQ:GOOGL) by 45.4% and initiating AMD exposure, moving focus from AI platforms to chip supply. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years . Disclosure: None. This article is originally published at Insider Monkey .

AI 시장 분석

Artisan Partners revealed in its Q2 2026 investment letter that it sold a portion of its AMD stock following a surge driven by the AI boom. AMD recently soared 182.50% over the past 52 weeks, closing at $457.06 per share with a market capitalization of $746.1 billion as of September 2. The fund manager reduced its weighting due to valuation pressures and profit-taking, but still views the long-term growth potential centered on AI infrastructure and data centers very favorably.

상승 영향

Semiconductors — Major semiconductor companies like AMD have achieved strong sales and results exceeding guidance, driven by data center demand and AI infrastructure expansion.
AI — The expansion of generative AI and agentic workloads has driven a surge in demand for high-performance computing and server CPUs, strengthening the long-term growth drivers of related companies.

하락 영향

Semiconductors — As the stock price surged 182.50% over the 52-week period, valuation pressures mounted, leading major institutional investors to reduce their stakes and increasing short-term selling pressure.

DYAX 전담 분석

Institutional profit-taking acts as a factor increasing volatility for AI semiconductor stocks, including AMD, in the short term. In particular, stocks facing heavy valuation pressures may experience limits to further upside potential.

In a bullish scenario, strong earnings could drive the stock price to rebound amid expanding demand for data centers and server CPUs, whereas in a bearish scenario, valuation controversies combined with profit-taking pressure could deepen the price correction. Key monitoring indicators are changes in hedge fund holdings and AI-related chip shipment volumes.

AI가 생성한 분석으로 투자 자문이 아닙니다.

DYAX Investor Sentiment

Bullish (Long) 55% · Bearish (Short) 45%

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