(NASDAQ: AMD) stock lost ground Tuesday -- the first trading day of 2024. The semiconductor specialist's share price ended the day down 6%, according to data from S&P Global Market Intelligence.

AMD stock fell on news that ASML had halted shipments of its lithography machines for semiconductor fabrication to China. ASML's decision reportedly stemmed from pressure applied by the U.S. government.

In addition to the big semiconductor-industry news, tech stocks also fell after Barclays analyst Tim Long downgraded the investment company's rating on Apple stock from "neutral" to "underweight." Long lowered his one-year price target on Apple from $161 per share to $160 per share citing a less favorable outlook for the iPhone line and potential weakening for the company's services business.

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Source Fool.com