Why Advanced Micro Devices, Qualcomm, and Micron Technology Fell Today

Shares of Advanced Micro Devices (NASDAQ: AMD), Qualcomm (NASDAQ: QCOM), and Micron Technology (NASDAQ: MU) fell hard on Wednesday on a terrible day for the market, down 5.6%, 6.3%, and 4.1%, respectively, as of 3:39 p.m. ET.

Although the overall market was down, these stocks were down more. Perhaps this is because all three stocks were up big yesterday, making today's bad news feel even worse.

It may seem odd these three are down, given that each of these semiconductor stocks has reported terrific earnings and profits recently amid booming chip demand. However, macroeconomic concerns, from U.S. consumer spending to China's continued lockdowns to rising interest rates, weighed on these three stocks today.

Source Fool.com