AMD Shares Feel the Heat as Intel Drags Chip Stocks Lower: What's Going On?

Advanced Micro Devices Inc. (NASDAQ:AMD) shares are down about 8% Friday in premarket trading as chip stocks slide in sympathy with Intel Corporation (NASDAQ:INTC), which reported earnings and issued guidance on Thursday after the market closed. Intel was down 25.51% premarket today, weighing on other semiconductor names, including ASE Technology Holding Co. Ltd.