Why AMD Shares Are Falling

Shares of several companies in the broader technology sector, including Advanced Micro Devices, Inc. AMD, are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.

The 10-year Treasury yield hit an intraday high of 1.712% early Wednesday afternoon before dipping to around the 1.702% level. Overall market volatility is persistent again during Wednesday's session as investors continue to weigh omicron concerns.

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Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the personal computer and data center markets via CPUs and GPUs.

AMD has a 52-week high of $164.46 and a 52-week low of $72.50.