Why AMD Shares Are Falling

Advanced Micro Devices, Inc. AMD shares are trading lower by 4.41% to $64.90 during Wednesday's session after Wells Fargo lowered its price target on the stock from $130 to $90.

AMD shares have fallen some 17% over the trailing month amid a rise in treasury yields. The weakness in the overall market may also be weighing on the sector following jobless claims data for September that was released last week which came in below estimates, which has added to concerns of further Federal Reserve action to curb the tight labor market.

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According to data from Benzinga Pro, AMD has a 52-week high of $164.46 and a 52-week low of $62.83.