Tom Sosnoff: AMD, Nvidia, Micron stocks 'have not sold off enough'

What happened

Tom Sosnoff told CNBC that Nvidia, AMD and Micron shares have not fallen enough to be compelling oversold opportunities. He said these AI chip leaders continue to support the broader market, while other AI-related stocks have struggled. The Nasdaq fell 5.3% in October, its worst month since March 2025.

Confirmed

Global impact / market context

If these influential chip shares weaken, they could add pressure to the broader market even though many other stocks have already struggled. That concentration means index performance may conceal weakness among other AI-linked companies, and further declines in leaders could deepen losses for investors holding broad market funds.

Analyst inference

Sosnoff’s comments describe a market where a small group of AI chip companies has continued to support major indexes despite weakness elsewhere. The article reports the Nasdaq’s 5.3% October decline, but does not establish that the three named stocks have since fallen further or quantify their index influence.

Analyst inference

What to watch

1. Watch whether Nvidia, AMD and Micron shares retreat further; that would test Sosnoff’s view that they have not yet fallen enough to be considered oversold opportunities. Analyst inference
2. Track whether weakness spreads from other AI-related stocks to the three named chip leaders, since the article says those leaders have supported the broader market. Analyst inference
3. Compare broad-market performance with the performance of these chip shares to see whether a small group’s strength continues to mask weakness elsewhere. Analyst inference

Evidence

• invezz.com