AMD's Stock Slips Toward Its Second 6-session Losing Streak In June

Advanced Micro Devices Inc.'s stock slipped 0.2% in afternoon trade Friday, putting it in danger of a sixth-straight loss, amid growing worries over competition in the cryptocurrency market. Although this would mark the second six-session losing streak this month--the other ended on June 16--the stock was still up 12.4% in June. The chip maker's monthly gain was supported by two four-session win streaks, one ending June 8 that added 18%, and another ending June 22 that added 26%. On Friday, RBC Capital analyst Mitch Steves fueled the competition fears, by saying if AMD faced a crytocurrency battle with Nvidia Corp. , "we think Nvidia would win." Nvidia's stock was up 1.0% in June. Meanwhile the PHLX Semiconductor Index has lost 4.8% and the S&P 500 has tacked on 0.6% this month.