Advanced Micro Devices (AMD) stock is sliding today, dropping through its 50-day moving average on a Monday, as a sector-wide selloff weighs on the chipmaker.
The decline comes as talk of an artificial intelligence bubble bursting grows louder.
Talk of the artificial intelligence bubble bursting is growing louder.
Trading analysts have noted a technical setup for AMD, suggesting an entry at $435.74, a stop loss at $461.26, and a take profit at $399.85 on a 6-hour timeframe, though such setups are not verified.
AMD recently announced a deal with Anthropic. The company's second-quarter earnings are scheduled for release on August 4.