Why Advanced Micro Devices Fell Today
Shares of chipmaker Advanced Micro Devices (NASDAQ: AMD) were plunging in Thursday trading, down as much as 7.8% before bouncing to a 7.4% decline as of 2 p.m. ET.
It appears as though today was a "sell the news" event following the stock's run-up ahead of the Nvidia earnings release yesterday, and ahead of Federal Reserve Chair Jay Powell's speech tomorrow in Jackson Hole.
In addition, AMD announced a new AI-focused software acquisition today. While that could be interpreted as a positive, it could also fuel sentiment that AMD is far behind Nvidia and in "catch-up" mode in AI.
Source Fool.com
Advanced Micro Devices Inc. Stock
€149.12
0.110%
The stock is one of the favorites of our community with 78 Buy predictions and 2 Sell predictions.
With a target price of 179 € there is a positive potential of 20.04% for Advanced Micro Devices Inc. compared to the current price of 149.12 €.
