Short Seller Expands AMD Bet Even as Stock Sits at Record High

AMD shares reached all-time highs in recent trading, but at least one analyst is betting against further gains. A Seeking Alpha piece published October 1 said the author is expanding an existing short position in the chipmaker, arguing the stock's valuation has become disconnected from its underlying business performance. The call stands out because it comes during a period when AI-chip demand has lifted peers across the semiconductor sector, including Keysight Technologies, which also hit an all-time high in the same session. A bearish call at record highs implies the author expects a correction once growth expectations are tested against actual results. The thesis remains a minority view while AMD's price action continues to climb. The next AMD earnings report will be the clearest test of whether revenue and margin trends support the current valuation or vindicate the short case.