Investors would be forgiven for thinking Advanced Micro Devices Inc (NASDAQ: AMD) has been trading well in recent months, as investors continue to bet on the AI revolution and any tech company with exposure to data center growth. However, a sharp 6% drop following AMD's latest earnings report added to the stock's multi-month downtrend.
Though AMD smashed analyst expectations on the headline numbers, its shares dropped as much as 10%. Still, the broader market remains just below all-time highs, and risk-on sentiment is favoring stocks like AMD that could be on the verge of playing catch-up.
