Advanced Micro Devices, the year’s best-performing technology stock, is getting pummeled as the entire tech sector takes a nosedive.
Shares of AMD tumbled as much as 11 percent on Monday to a low of $18.80, the biggest decliner among the 66 companies in the S&P 500 tech index. The index as a whole dropped 3 percent, with all but one of its members losing value.
Despite the setback, AMD is still the top tech gainer of the year, rising 87 percent. The stock hit its peak on Sept. 13, when it traded at $34.14, and has since been on a downward spiral, dropping more than 40 percent.
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