Semiconductor stocks have been one of this year’s hottest trades. But lately, chipmakers have been leaving investors cold.

Advanced Micro Devices reported second-quarter sales and adjusted operating income Tuesday afternoon that were down sharply from a year ago. But investors were evidently looking for more: AMD shares were down 6% Wednesday afternoon. That followed disappointing results last month from peers Taiwan Semiconductor Manufacturing and Texas Instruments.

Other chip stocks came along for the ride:



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