My vote is A: AMD and Micron, although I would remain cautious about buying immediately after their substantial weekly declines.
Both companies benefit from structural AI infrastructure demand. AMD's data centre growth and Micron's HBM opportunities offer compelling long-term potential.
However, strong earnings do not automatically justify premium valuations.
For AMD, I would monitor AI accelerator shipments, hyperscaler adoption and gross margins. For Micron, I would prioritise HBM demand, realised pricing and profitability.
I would also watch for stabilising earnings estimates and a sustained semiconductor sector recovery.
Ultimately, sharp corrections can create opportunities, but falling prices alone do not establish undervaluation. I prefer confirmation through earnings growth and sustainable free cash flow rather than chasing short-term rebounds.
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