invezz87d ago
Shares of Advanced Micro Devices fell sharply on Thursday, as investors locked in gains following a strong rally in the previous session. The stock dropped more than 7.2%, slipping to $204.24 after opening at $218 and touching a session low of $203.78. The decline comes immediately after AMD surged over 7% on Wednesday, part of a broader rally across semiconductor stocks. That surge had been fueled by optimism around pricing power and demand for CPUs, particularly in artificial intelligence (AI) applications. However, Thursday’s reversal reflects a classic bout of profit-taking, as traders moved to secure gains after the rapid rise. The move also suggests that the prior rally may have run ahead of near-term sentiment, prompting a pause despite no...