Why AMD stock price is crashing
In a year when semiconductor stocks and chipmakers generally saw impressive performances across the board, Advanced Micro Devices (NASDAQ: AMD) has been struggling. This was by no means a foregone conclusion — in the first quarter of 2024, AMD stock price surged from $138 in January to a yearly high of $211.38 in early March.
This 53.17% rally proved to be temporary, however — the initial optimism centered on AMD’s strategic positioning in the burgeoning AI market fizzled out. By the beginning of May, a single Advanced Micro Devices share could be had for as little as $144.
At press time, AMD stock was trading at $130.94 — having erased all of its yearly gains. Over the course of the last thirty days, Advanced Micro…
