Why Advanced Micro Devices Stock Crumbled on Tuesday

On Tuesday, the No. 1 tech sector, water cooler conversation item was a giant financial company's investment into a major American chip maker. Unfortunately for shareholders of American Micro Devices (NASDAQ: AMD), their company wasn't the one chosen by the suitor. With many investors surely feeling left out, they assertively traded out of AMD stock, leaving it with a more than 5% loss on the day. The S&P 500 index also declined, but its fall was far less steep at 0.6%.The company doing the investing was SoftBank, and its target was not AMD but the U.S. company's longtime rival Intel.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool