Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by 2.8% to $113.16 Thursday morning. The stock is falling potentially amid weakness in the Nasdaq-100 (NASDAQ:QQQ) following Wednesday’s earnings reports from Netflix and Tesla.
Additionally, AMD may be falling amid weakness in peer chipmaker Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) after the company reported worse-than-expected second-quarter earnings results.
AMD relies heavily on TSM for the production of its semiconductor chips. If TSM’s earnings disappoint, it may indicate lower demand for semiconductor manufacturing services, which could raise concerns about AMD’s future chip supply and production costs.
Investors might worry about potential delays or increased expenses for AMD’s products, impacting their revenue and profitability outlook.
According to data from Benzinga Pro, AMD has a 52-week high of $132.83 and a 52-week low of $54.57.
