Ahead of AMD Inc. (AMD) earnings, Danielle Shay has expectations that a slowdown in its PC business is already priced in and is watching the $500 level as a line in the sand between bears and bulls. Proof AMD is taking market share from Intel (INTC) is something Danielle sees pushing bulls over that line. She explains that the technical set-up for AMD appears favorable and believes the stock will reach between $650 and $700. Danielle then looks to the technical trends in the VanEck Semiconductor ETF (SMH) and how a breakdown in AMD post-earnings will hit all chipmakers.