Why Advanced Micro Devices Stock Crumbled on Tuesday
On Tuesday, the No. 1 tech sector, water cooler conversation item was a giant financial company's investment into a major American chip maker.
Unfortunately for shareholders of American Micro Devices (NASDAQ: AMD), their company wasn't the one chosen by the suitor. With many investors surely feeling left out, they assertively traded out of AMD stock, leaving it with a more than 5% loss on the day. The S 500 index also declined, but its fall was far less steep at 0.6%.
The company doing the investing was , and its target was not AMD but the U.S. company's longtime rival Intel.
Source Fool.com
Advanced Micro Devices Inc. Aktie
209,45 €
-1,06 %
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