Chip Stock Lower on Ramped Up Nvidia Competition

Advanced Micro Devices, Inc. (NASDAQ:AMD) is down 5.1% at $181.00, after Nvidia (NVDA) ramped up competition by unveiling a new flagship artificial intelligence (AI) chip during its annual developer conference. AMD sports a 96.9% year-over-year lead, despite cooling from its March 8, all-time high of $227.30, with long-term support from the 40-day moving average ready to contain this pullback. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ADM' ...