Why AMD Stock Is Sinking Today
(NASDAQ: AMD) stock is losing ground today amid macroeconomic concerns and valuation pressures for artificial intelligence (AI) companies. The semiconductor specialist's share price was down 2.2% as of 2:20 p.m. ET. At the same point in the day's trading, the S 500 and Nasdaq Composite were down 0.6% and 1.1%, respectively. The stock had been down as much as 5% when the market opened, but it regained ground in conjunction with some recovery momentum for the broader market.
Tech stocks are getting hit with selling pressures today following new research from the Massachusetts Institute of Technology (MIT) that suggests generative AI integration has mostly been a losing proposition for businesses. New signs that inflation-related pressures could be on the verge of ramping up are also playing a role in AMD's pullback.
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Source Fool.com
Advanced Micro Devices Inc. Stock
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