Major Funds Boost AMD Weighting Despite Shares Dropping 4.7%
AMD•Advanced Micro Devices shares declined 4.69% and 3.78% in separate trading sessions even as major active funds quietly boosted their AMD allocations to top-five positions in key technology portfolios. T. Rowe Price’s Global Technology Fund, delivering roughly 40% annualized returns off a 100% semiconductor rally, maintains an overweight stance on AMD.
1. Funds Increase AMD Allocations
Data from recent portfolio disclosures shows several leading active equity funds raising their AMD weightings by significant basis points this quarter, catapulting AMD into the top five holdings of multiple technology-focused ETFs and mutual funds.
2. AMD Shares Under Pressure
Despite the bullish repositioning by institutional investors, AMD stock slid 4.69% in afternoon trading and later by 3.78% in mid-day sessions, as investors digested rotation into other tech names following strong semiconductor gains.
3. Fund Manager Endorses Semis
Dom Rizzo’s T. Rowe Price Global Technology Fund has generated approximately 40% annualized returns, driven by a 100% sector-wide semiconductor rally, and continues to overweight AMD based on robust chip demand and growth prospects.
