Advanced Micro Devices is trading 5.8% down at $80,425 following a sharp sector-wide AI chip and semiconductor selloff.
- Investors appear to be locking in profits amid valuation concerns and broader chip weakness tied to moves by Samsung and SK Hynix.
- Sentiment is further pressured by news that ARK Invest has been trimming its position in the company.
- The decline occurs despite recent analyst price target increases and continued strong commentary regarding long-term AI demand.