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Advanced Micro Devices (AMD) may rank among the top semiconductor companies in the age of artificial intelligence, with AMD stock having more than doubled in value over the past 52 weeks. However, the security has gotten off to an uncharacteristically poor start to the new year, losing roughly 7%. Adding to some of the skepticism, the Barchart Technical Opinion indicator rates AMD as a 24% Weak Sell.
Fundamentally, much of the concern appears tied to growing anxieties of an AI bubble. Further, while machine learning has accelerated productivity across the board, there are also worries that most of the recent economic gains have been concentrated within a few elite tech companies. With such an unbalanced mix of sectors participating in the wealth creation story, the threat of a bubble bursting looms larger.
