Advanced Micro Devices' (NASDAQ: AMD) stock price has declined nearly 20% this year as rising interest rates have caused investors to cash out of higher-growth tech stocks. AMD also faces concerns about slower PC sales in a post-lockdown market, as well as tougher competition from Intel (NASDAQ: INTC) and Nvidia (NASDAQ: NVDA) in CPUs and GPUs, respectively. AMD is also still slogging through the ongoing chip shortage, which is causing traffic jams at its main manufacturing partner Taiwan Semiconductor Manufacturing (NYSE: TSM) (TSMC), and facing unresolved regulatory challenges for its planned takeover of Xilinx (NASDAQ: XLNX).
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