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Why Advanced Micro Devices Stock Dropped This Week

John Ballard, The Motley Fool
·2-min read

Week to date, shares of Advanced Micro Devices (NASDAQ: AMD) are down 16.5% as of 10:38 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence. One analyst issued a bullish forecast for AMD on Thursday, but that was overshadowed by a disappointing earnings report from Micron Technology that weighed on semiconductor stocks toward the end of the week. Micron is a leading supplier of memory and storage chips and announced a record quarter.

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