AMD Falls After Earnings, Sparks Selloff in Nvidia and Other Chip Stocks
Semiconductor stocks have been one of this year’s hottest trades. But lately, chipmakers have been leaving investors cold.
Advanced Micro Devices reported second-quarter sales and earnings that topped Wall Street estimates on Tuesday afternoon. But investors were evidently looking for more: AMD shares were down 6% shortly before noon on Wednesday. That followed disappointing results last month from peers Taiwan Semiconductor Manufacturing and Texas Instruments.
Other chip stocks came along for the ride: