Benzinga | Oct 4, 2021 01:52PM EDT

Why AMD Shares Are Falling

Shares of companies in the broader technology space, including Advanced Micro Devices, Inc. (NASDAQ:AMD), are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.

The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.

Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the personal computer and data center markets via CPUs and GPUs.

AMD has a 52-week high of $122.49 and a 52-week low of $72.50.