AMD's Stock Tumbles, Bringing Win Streak To An Abrupt End

By Tomi Kilgore Markets MarketWatch Pulse

Shares of Advanced Micro Devices Inc. sank 5.2% in afternoon trade Friday, marking an abrupt end to the recent win streak, amid a broad selloff in the technology sector. AMD shares, which were up as much as 3.9% earlier in the session, started sinking just before noon, along with tech-heavy Nasdaq Composite , with some analysts attributing the sudden weakness to profit-taking ahead of the weekend. The Nasdaq Composite was slumped 1.5%, after being up as much as 0.3% at a record intraday high earlier, while the S&P 500 eased just 0.1%. AMD's stock had rocketed 18% during the four-session win streak through Thursday, as investors focused on Apple Inc.'s mention of the company's chips and recent strong demand from the gaming and cryptocurrency sectors.

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