On July 29, Advanced Micro Devices declined 3.12% overnight, trading at $439.44/share, with turnover of $85.67 million. The decline extends a multi-day selloff that has gripped the semiconductor sector.

On the news front, the listing of Chinese DRAM giant CXMT triggered a global reassessment of memory supply dynamics, sparking fears over potential shifts in the DRAM competitive landscape. SK Hynix broke below its IPO price for the first time since its US listing. The VanEck Semiconductor ETF (SMH) fell 3.45%, with AMD dropping 8.15%, Micron declining 8.85%, and SK Hynix falling 8.98% during regular trading on July 28.

Additionally, AMD's stock faces profit-taking pressure following its Advancing AI conference, where multiple banks raised target prices — Futurum to $800, UBS to $730, and Cantor Fitzgerald to $700. With AMD's earnings report scheduled for August 4, the market is inclined to lock in gains ahead of the reporting window. The newly announced Core Scientific partnership for up to 2.5 gigawatts of data center capacity further exemplified a \"sell the news\" dynamic.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)