Benzinga | Nov 10, 2021 03:02PM EST

Why AMD Shares Are Falling

Shares of several chip and semiconductor companies, including Advanced Micro Devices, Inc. (NASDAQ:AMD) are trading lower as the sector pulls back following recent strength, with chip shortage concerns driving volatility in the sector.

Worse-than-expected US inflation data has weighed on stocks across sectors.

Advanced Micro Devices shares were otherwise trading higher Monday after the company presented at its Accelerated Data Center event. The company announced Meta (NASDAQ:FB) chose EPYC CPUs for its data center.

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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 $155.65 and a 52-week low of $72.50.