Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by 0.8% to $110.06 Thursday afternoon following weakness in recent sessions. Shares of several semiconductor companies last week fell in sympathy with Taiwan Semiconductor (NYSE:TSM), which issued weak third-quarter and 2023 guidance.
The semiconductor industry is interconnected, and companies within the sector often experience similar market trends and challenges. If TSM’s earnings miss expectations, it could signal broader issues within the semiconductor market, affecting investor sentiment towards the entire industry, including AMD.
Investors may fear that weaker demand for TSM’s services indicates a slowdown in the overall semiconductor market, which could negatively impact AMD’s sales and growth prospects.
According to data from Benzinga Pro, AMD has a 52-week high of $132.83 and a 52-week low of $54.57.
