Advanced Micro Devices, Inc. shares fall 1.11% premarket as tech stocks decline due to overvaluation fears and regulatory concerns.

Advanced Micro Devices, Inc. fell 1.11% in premarket trading. The decline in stock price could be attributed to the broader market sentiment, as U.S. stock index futures slipped on Thursday, with investors stepping to the sidelines and awaiting an earnings report from big-box retailer Walmart and clues on the Federal Reserve's next policy move from a three-day conference in Jackson Hole. Additionally, a sharp decline in technology stocks such as Nvidia, AMD, Palantir, and Meta earlier in the week signaled investor fears that these stocks, which have soared since April lows, are now overvalued.