Why Advanced Micro Devices, Taiwan Semiconductor Manufacturing, and Dell Technologies Plunged Today
Shares of semiconductor giants Advanced Micro Devices (NASDAQ: AMD), Taiwan Semiconductor Manufacturing (NYSE: TSM), and Dell Technologies (NYSE: DELL) were all falling on Wednesday, down 5.2%, 3.7%, and 5.3%, respectively, as of 3:42 p.m. ET.
None of these three companies had any company-specific news today, but one -- or actually, two -- of their main rivals reported earnings last night, casting a pall over any chip stock leveraged to the PC or server markets.
Moreover, the entire semiconductor sector has been on fire in the month of May, in the wake of Nvidia's (NASDAQ: NVDA) blowout guidance on May 25 and hype around artificial intelligence. So, it wasn't a surprise to see these stocks have a pullback as news from a non-Nvidia peer underwhelmed.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 93 Buy predictions and 2 Sell predictions.
With a target price of 175 € there is a slightly positive potential of 15.59% for Advanced Micro Devices Inc. compared to the current price of 151.4 €.
