Semiconductor stocks, including Advanced Micro Devices (AMD), are experiencing downward pressure due to a combination of factors impacting the sector. Notably, Korean memory chipmaker SK Hynix reported record quarterly results that failed to meet investor expectations, contributing to a broader decline in semiconductor stocks. Additionally, potential U.S. export controls have been a concern for the industry, adding to the negative sentiment. These developments have overshadowed any positive news, leading to a cautious outlook for semiconductor companies.
The GraniteShares 2x Long AMD Daily ETF (AMDL) is trading at $7.74, reflecting a 2.11% decrease from the previous close as of 10:00 AM on January 23.