Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by 1.52% to $75.78 going into Tuesday’s market close. Broader U.S. economic concerns ahead of Wednesday’s CPI report have weighed on market sentiment. AMD shares were also trading lower Monday after Barclays lowered its price target on the stock from $115 to $85.
Morningstar reported the analyst consensus expects CPI to come in at elevated levels at 8.8%, which is slightly higher than the 8.6% reading in May. Stocks across sectors fell in June amid overall market weakness after CPI data showed prices rose in May. Rising inflation has caused concerns about a slowdown in economic activity, which could impact the sector.
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According to data from Benzinga Pro, AMD has a 52-week high of $164.46 and a 52-week low of $71.60.
