Why AMD stock is down: hot U.S. wholesale inflation and Nvidia slump weigh on Advanced Micro Devices
Advanced Micro Devices shares fell 1.6% to $200.43 in mid-morning New York trade Friday, tracking declines across chip stocks after U.S. producer prices rose 0.5% in January, above forecasts. The Philadelphia Semiconductor Index dropped about 1.1%. Nvidia shares also fell Thursday despite strong results. Investors are watching for Broadcom earnings March 4 and the U.S. jobs report March 6.