What's Going On With AMD Shares

Advanced Micro Devices, Inc. AMD shares are trading lower by 3.93% to $56.62 Friday afternoon. Shares of several companies in the broader technology sector, including Advanced Micro Devices, are trading lower amid a rise in treasury yields, which has pressured growth stocks. U.S. indices are also lower for the session as stocks give up gains following yesterday's rally as investors continue to weigh concerns over inflation.

The 10-year U.S. Treasury yield hit an intraday high of 4.006% Friday morning before dipping to around the 3.979% level. When interest rates rise, the value of future cash flows is reduced for growth stocks like Tesla, which in turn lower the value of the stock.

See Also: September Inflation Runs Hot At 8.2%, Sending Stocks Spiraling Lower: What You Need To Know

What Happened With Inflation Data Thursday?

According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.2% in September, down from 8.3% in August. The September CPI reading came in above average economist estimates of 8.1%. 

On a month-over-month basis, CPI was up 0.4% versus average economist estimates for a 0.2% jump...Read More

Chip Stocks Continue Volatility

AMD last week announced the company sees preliminary third-quarter revenue of approximately $5.6 billion, lower than the prior outlook of $6.7 billion plus or minus $200 million, primarily due to weaker Client segment revenue.

"The PC market weakened significantly in the quarter," said AMD chair and CEO Dr. Lisa Su...Read More

According to data from Benzinga Pro, AMD has a 52-week high of $164.46 and a 52-week low of $54.57.