Shares of companies in the broader technology and semiconductor sectors, including Applied Materials, Inc. (NASDAQ:AMAT), Advanced Micro Devices, Inc. (NASDAQ:AMD) and NVIDIA Corporation (NASDAQ:NVDA), are all trading lower amid a rise in US Treasury yields.
When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock. The 10-year US Treasury yield is hovering around a two-year high at 2.500% Friday morning, which has pressured valuations.
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- Applied Materials is trading lower by 2.15% at $135.70. Applied Materials has a 52-week high of $167.06 and a 52-week low of $114.39
- AMD is trading lower by 2.10% at $118.00. AMD has a 52-week high of $164.46 and a 52-week low of $72.50
- Nvidia is trading lower by 2.06% at $275.69. Nvidia has a 52-week high of $346.47 and a 52-week low of $122.72
