XLNX - AMD shares fall 4% to lead selloff in chip stocks

Advanced Micro Devices (NASDAQ:AMD) shares were down more than 4%, Wednesday, and investors appeared to be taking profits from the chipmaker in the wake of its big Meta (NASDAQ:FB) technology deal earlier this week. Along with AMD (AMD), several other leading chip stocks in the S&P 500 (SP500) were also in the red, with Qualcomm (NASDAQ:QCOM) down 2.5%, Nvidia (NASDAQ:NVDA) off by 2.2%, and Micron Technology (NASDAQ:MU) and Texas Instruments (NASDAQ:TXN) each down by 1.6%. At least part of the decline was being placed on broader concerns about steps that the Federal Reserve may have to take to rein in inflation. There had been plenty to stoke investors' enthusiasm for AMD (AMD) Monday, when the company said it reached a deal to have its Epyc processors power a slate of new Facebook (FB) data centers. The deal was seen as a big win for AMD (AMD) as it puts the chipmaker in a

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AMD shares fall 4% to lead selloff in chip stocks