AMD Shares Drop 8.75% Amid Semiconductor Sector Sell-Off
Advanced Micro Devices (AMD) saw its stock price fall by 8.75% to close at $534.06 on Friday, following a sharp reversal of early gains. The decline was part of a broader sell-off in the AI chip sector, with competitors like Nvidia (NVDA) and Intel also experiencing losses as investors reacted to uncertainty surrounding upcoming earnings reports and shifts in semiconductor demand. Despite the single-day volatility, AMD's performance remains supported by strong fundamentals, including recent third-quarter revenue of $13.4 billion and nearly doubled year-over-year sales in its data center segment. Market participants are closely monitoring Nvidia's upcoming report for signals regarding the future trajectory of AI chip demand.
Topics: AI chips semiconductors stock market volatility
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