(CNBC) Third Point’s Dan Loeb has taken a passive stake in chipmaker AMD, sources told CNBC’s Scott Wapner. The hedge fund manager took the bet when AMD shares struggled, according to sources. AMD shares have underperformed the rest of the sector over the last 12 months, down more than 30% as the PHLX Semiconductor Index declined 14%.
Activist hedge fund manager Dan Loeb takes a passive stake in AMD
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