Why Advanced Micro Devices Stock Fell 21.8% in April
Shares of Advanced Micro Devices (NASDAQ: AMD) fell 21.8% in a rough April, according to data from S&P Global Market Intelligence. The semiconductor company was hit hard in a bad market for technology stocks, especially those that cater to consumer PCs.
Semiconductors tend to be sensitive to market movements, both to the upside and the downside. In addition, higher-valued growth stocks were hit especially hard last month, as the market became increasingly worried about inflation and higher interest rates. As a high-growth semiconductor stock, AMD found itself on the wrong end of the general market mood.
Yet as Tuesday night's earnings report showed, there's certainly nothing wrong with AMD's operational performance at the business level.
Source Fool.com
