AMD battered with huge share declines

Liam_Selby

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AMD battered with huge share declines

AMD added its name to a growing list of semiconductor companies that were battered with huge share declines after reporting disappointing results and forecasts. The stock slumped in extended trading, wiping out more than a fifth of the chipmaker’s market value.

AMD’s results came on a day when investors were already pressing the sell button on a sector that many now fear is signaling a wider technology industry downturn. The Philadelphia Stock Exchange Semiconductor Index dropped 6.6 percent Wednesday after Texas Instruments, which has the largest number of customers and the broadest product range in the chip industry, warned that demand is slowing across many of its markets.

[Bloomberg]
 
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