AMD is trading 2% down now at $509.42 as investors continue to reassess richly valued AI chip names after a sharp multi-day pullback.
- Semiconductor stocks remain volatile surrounding Micron’s earnings and broader profit-taking in high-multiple tech sectors.
- The decline comes despite UBS raising its price target for the stock to $670 from $455, citing long-term optimism for AI.
- The stock remains under pressure following its recent surge to record highs.