Shares of Advanced Micro Devices (AMD) have taken a sharp downward turn, falling more than 18% following the release of the company's second-quarter financial results.
Prior to the announcement, Advanced Micro stock, which has soared 24% in three months, had been a relative outperformed. This compares to 4% and 5% gains for chip stocks like Nvidia (NVDA) and Texas Instruments (TXN), respectively.