November 10 Market Report: AMD Soars 11%
AMD surged 11.02%, posting the strongest performance among large-cap stocks.
Looking at key U.S. market data from November 9, 2026, the semiconductor sector clearly diverged from defensive stocks. AMD jumped from $404.40 to $449.04, while Micron rose 5.12% to $690. In contrast, Apple slipped 0.01% to $342.37, and Walmart fell 0.02%. The data shows clear signs of capital flowing back into tech stocks, particularly semiconductors.
Movement Among the Largest Stocks by Market Cap
| Stock | Price | Change | Market Cap | P/E |
|---|---|---|---|---|
| Apple | $342.37 | -0.01% | 4.98 trillion KRW | 38.1 |
| Nvidia | $186.64 | +0.03% | 4.51 trillion KRW | 23.6 |
| Microsoft | $530.61 | -0.01% | 3.94 trillion KRW | 27.7 |
| Alphabet (GOOGL) | $284.78 | +0.01% | 3.50 trillion KRW | 14.9 |
| Amazon | $259.30 | -0.00% | 2.80 trillion KRW | 21.0 |
| TSMC | $375.44 | +0.06% | 1.95 trillion KRW | 24.3 |
| Meta | $610.15 | +0.01% | 1.56 trillion KRW | 20.8 |
| Tesla | $358.22 | +0.04% | 1.42 trillion KRW | 393.6 |
| Micron | $690.00 | +0.05% | 0.78 trillion KRW | 9.3 |
| AMD | $449.04 | +0.11% | 0.74 trillion KRW | 95.9 |
Apple held onto the top spot by market capitalization at 4.98 trillion won, with Nvidia close behind at 4.51 trillion won—a gap of roughly 0.47 trillion won. But the two stocks moved in opposite directions. While Apple edged slightly lower, Nvidia closed at $186.64 to finish in the green. Tesla also stood out among large-cap tech names, gaining 4.23% to $358.22.
Semiconductor Strength and a Valuation Gap
Semiconductors swept the day's biggest gainers. AMD rose 11.02%, Micron 5.12%, ASML 5.02%, and TSMC 6.34%. Palantir added 3.48%, climbing from $154.99 to $160.38, underscoring the strength of AI-related software companies. The moves are in line with overnight news of a sharp rebound in U.S. semiconductor stocks.
Valuations, however, reveal wide disparities within the sector. Micron trades at a P/E of just 9.3, the lowest on the list—suggesting the market has yet to fully price in the semiconductor boom. By contrast, growth expectations are already steep for AMD at 95.9 and Palantir at 112.9. Nvidia's P/E of 23.6 looks relatively modest among AI beneficiaries, though its explosive earnings growth of 6,599.3% has inflated the denominator.
Laggards and Warning Signs
The decliners list is telling as well. Platform big techs such as Apple, Microsoft, and Amazon slipped within flat territory, while retail names like Walmart (-0.02%) and Costco (-0.01%), along with consumer and healthcare stocks including Johnson & Johnson, also weakened. The pattern reads as a rotation of capital away from safe assets and back into growth stocks.
There are earnings warning signs, too. Meta posted an EPS growth rate of -256.0%, and Tesla -4,709.0%, reflecting sharp profit declines. Tesla's P/E of 393.6 indicates the stock has run well ahead of its earnings. The weak results at Exxon Mobil (-1,454.1%) and Chevron (-3,186.5%) confirm that falling crude prices have eroded energy sector profits.
Market Outlook and Investment Implications
Still, it is too early to read the day's action as pure optimism. Whether investor sentiment has truly entered a rebound phase will need confirmation in the next trading session. For the semiconductor rally to last, earnings support tied to AI demand must follow. Undervalued semiconductor names like Micron, with its P/E of 9.3, have room to rise, but stocks trading above 100 times earnings could see wider swings around earnings reports. As Nelson Mandela said, after climbing a great hill, one only finds there are many more hills to climb—so too, following this semiconductor rebound, investors face the next hurdle of valuation normalization.
