Why Advanced Micro Devices Stock Dropped This Week
Week to date, shares of Advanced Micro Devices (NASDAQ: AMD) are down 16.5% as of 10:38 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
One analyst issued a bullish forecast for AMD on Thursday, but that was overshadowed by a disappointing earnings report from Micron Technology that weighed on semiconductor stocks toward the end of the week.
Micron is a leading supplier of memory and storage chips and announced a record quarter. However, the company said it would pull back on expanding capacity to account for the declining demand trends in the consumer PC market.
Source Fool.com
