AMD Stock Falls 26.38% In a Single Day!
Last Friday AMD stock closed at $20.13 and this morning the stock opened at $16.63. Through a rough day of trading shares of AMD closed at $14.82, which is down $5.31! This is all following the chip maker’s warning that its fourth-quarter operating income would be “down significantly” from the third quarter.
“Stocks sagged Tuesday as a disappointing sales forecast from Advanced Micro Devices Inc. sparked pessimism about semiconductor issues, putting buyers on the run.
The prospect of flagging revenues and profits in the chip sector did little to cheer investors following a weak start to the fourth-quarter earnings season. Less-than-stellar results from Alcoa Inc. and Genentech Inc. — the first two major companies to report — did not inspire much conviction.”
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