On May 21, Advanced Micro Devices (AMD) fell 3.03% in pre-market trading, trading at $434.26/share, with trading volume of approximately $243 million. The decline extends recent volatility in the semiconductor sector, which has been under sustained pressure from macroeconomic headwinds.
The pullback comes amid an ongoing turbulent stretch for chip stocks. On May 19, AMD and the broader semiconductor sector experienced a sharp selloff of nearly 6%, driven by surging U.S. Treasury yields — with the 2-year yield reaching 4.11% and the 10-year yield climbing to 4.663% — alongside elevated inflation expectations and interest rate swap markets pricing in over 80% probability of a Federal Reserve rate hike by year-end. Although the stock briefly rebounded on May 20, the macro overhang appears to persist. Additionally, Goldman Sachs recently downgraded AMD to neutral, adding to near-term sentiment headwinds despite other analysts raising price targets.
Within the Semiconductors sector, most peers traded lower in pre-market, with Intel down 2.83%, NVIDIA down 0.73%, Broadcom down 0.56%, and Micron Technology down 0.14%, while Marvell Technology bucked the trend with a 0.71% gain.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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