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Why Advanced Micro Devices Stock Dropped This Week

TheMotleyFool

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Why Advanced Micro Devices Stock Dropped This WeekPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Week to date, shares of Advanced Micro Devices (NASDAQ: AMD) are down 16.5% as of 10:38 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.

One analyst issued a bullish forecast for AMD on Thursday, but that was overshadowed by a disappointing earnings report from Micron Technology that weighed on semiconductor stocks toward the end of the week.

Micron is a leading supplier of memory and storage chips and announced a record quarter. However, the company said it would pull back on expanding capacity to account for the declining demand trends in the consumer PC market.

Source Fool.com

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