Semiconductor stocks took a hit this week. The selling began with Broadcom, whose latest quarterly report lacked the wow factor investors had hoped for. That was enough to pull much of the group lower, from Nvidia on down, after a stretch in which chip stocks had run to record highs.
Advanced Micro Devices (AMD 10.86%) got swept up in the downdraft, slipping from the all-time high it set in early June. There was no company-specific news behind the move; the stock simply traded down with its peers. So, for investors eyeing the pullback, the question is whether this is a chance to buy one of the better-positioned artificial intelligence (AI) names or a falling knife best left alone.
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