Advanced Micro Devices (NASDAQ: AMD) stock is losing ground in Friday's trading. The semiconductor company's share price was down 5.2% as of 11:15 a.m. ET. Meanwhile, the S&P 500 index had fallen 1.6%,

The PC market endured double-digit declines in 2022 and 2023. The good news for AMD is that the market stabilized in 2024, witnessing a 0.8% increase in shipments, per market research firm IDC. Even better, the PC market is expected to record 4.3% growth this year, driven mainly by a 5.1% improvement in sales of commercial PCs.

For those reasons, investors should consider the $120 the “Trigger Price” for a wave of selling on AMD stock. From a long-term perspective, AMD has been in a bear market trend since December. In December the stock broke below its 20-month moving average. AMD maintains a bearish outlook with a price target of $100.

Advanced Micro Devices (NASDAQ:AMD) has a history of eating away at rivals’ dominance by delivering superior products, as evidenced by its