Why Artificial Intelligence (AI) Stocks Taiwan Semiconductor and Broadcom Popped, While Advanced Micro Devices Dropped on Monday
Much of the broad market rally that began early last year has its origins in the growing potential of artificial intelligence (AI). Indeed, the world is just beginning to grasp the vast opportunity afforded by AI as investors scramble to profit from these next-generation algorithms. Wall Street is doing its level best to stay ahead of the curve, regularly releasing a flurry of new pronouncements.
That appeared to be the driving factor today behind a number of stock-price movements today, as semiconductor stocks were decidedly mixed. Taiwan Semiconductor Manufacturing (NYSE: TSM), also called TSMC, jumped 2.5%, and semiconductor giant Broadcom (NASDAQ: AVGO) rallied 1.6%, while chipmaker Advanced Micro Devices (NASDAQ: AMD) slumped 4.3% as of 3:07 p.m. ET on Monday.
It appears the opinions of some Wall Street analyst's were behind these stock-price movements.
Source Fool.com
Advanced Micro Devices Inc. Aktie
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