The S&P 500 (SPY) and Nasdaq’s (QQQ) weak performance last week will worry investors holding AI-related stocks. Valuations are wildly stretched for AMD (AMD), Nvidia (NVDA), and Super Computer Micro (SMCI). Markets justify their rise on expectations that growth will accelerate this year.Assuming the market does not suddenly panic about valuations, all three stocks should fall only slightly from here.AMD has the most bearish momentum today. The stock peaked at over $220 before falling heavily intraday on March 8. Since then, the stock fell sharply, closing at $170.42. Investors prefer to hold…