Advanced Micro Devices Inc. (NASDAQ: AMD) shares moved sharply to the downside in after-hours trading on Thursday after the chipmaker warned of a revenue shortfall.
The technology sector has taken quite a hit so far in 2022 as investors bet that rising interest rates could weigh on tech stock growth rates. Tech short sellers have done fairly well so far this year, but a new report by S3 Partners analyst Ihor Dusaniwsky suggests short sellers expect more weakness ahead for tech stocks.
The Technology Select Sector SPDR Fund ETF (NYSE: XLK) tracks the tech sector of the market. It has run into resistance, which means the stage may be set for the rebound to end or pause.
The last five years were a great time to invest.
Virtually anything investors have touched has turned to gold since 2017, and the SPDR S&P 500 ETF (NYSE: SPY) total return over that stretch is 108.2%.