Why AMD Stock Tumbled 18% in July
AMD suffered from the broad decline of chip stocks last month, as investors grew skeptical of AI spending.
Overview
Shares of the semiconductor company Advanced Micro Devices (NASDAQ: AMD) fell sharply last month as a sectorwide sell-off among semiconductor stocks weighed on AMD and its peers amid fears of AI overspending.
AMD shareholders were also concerned about a report that said AI company DeepSeek is developing its own AI processor.
Details
The tech stock was down by 18% by the end of July, according to data provided by S&P Global Market Intelligence.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.