The S&P 500 rose 0.4% on July 15, 2026, its second straight day of gains, as strong earnings and softer inflation data offset weakness in semiconductor stocks. AMD and Micron Technology fell even as the broader index advanced.
The S&P 500 climbed 0.4% on July 15, 2026, its second consecutive day of gains. Solid earnings reports across sectors and weaker-than-expected inflation data drove the move.
Softer inflation lifts the index
The advance leaned on the core Producer Price Index for June, which came in weaker than expected. That reading fed speculation that the Federal Reserve may delay interest rate hikes, providing a favorable environment for stocks.
Yet the strength did not reach every corner of the market. Semiconductor names lagged, keeping the tech sector under pressure even as the broader index rose.
Semiconductors buck the rally
AMD and Micron Technology both declined despite the overall market strength. AMD fell 3.46% on the day, closing at $529.14. The chipmaker carries a market capitalization of about $862.8 billion.
By GuruFocus’s GF Value estimate, AMD is 118.9% overvalued, priced at $529.14 against a calculated intrinsic value of $241.73. Its price-to-earnings ratio of 173.49x sits well above its five-year median of 97.83x.
Insiders sell into the valuation
Insider activity reinforces the caution. Over the past three months, insiders sold $163.7 million worth of AMD shares. The stock’s GF Score of 79 out of 100 reflects strong growth and financial strength but a valuation rank of just 1 out of 10.
Source: GuruFocus
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