# Advanced Micro Devices (AMD) stock was down again on Tuesday as concerns about AI spending have weighed down the sector.

*semiconductor · news · 2026-04-29 · Markets Insider*

## Key points

- OpenAI failed to meet its own revenue and user growth targets, impacting sector sentiment.
- AMD supplies components to OpenAI for data centers, linking its performance to OpenAI’s demand.
- Market concerns suggest the AI-driven boom in CPU and GPU sales may be shorter than expected.
- Wall Street's average AMD price target is $295.04, implying an 8.34% downside from current levels.

**Companies:** Advanced Micro Devices

[Read the full story on Markets Insider](https://markets.businessinsider.com/news/stocks/why-is-amd-stock-down-today-4-28-26-1036074560)

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