AMD and Intel shares fell sharply Monday as rising Treasury yields, higher oil prices, artificial-intelligence risk concerns and profit-taking pressured semiconductor stocks, even as Bank of America raised AMD's price target to $720 from $620. AMD had recently reported record second-quarter revenue of $11.5 billion, up 50% year over year, crossed a $1 trillion market value and benefited from expanding AI-related CPU and accelerator commitments. The 10-year Treasury yield reached 5.25%, its highest level since June 2007, while Brent crude rose above $108 a barrel after President Donald Trump rejected Iran's ceasefire proposal and plans to reopen the Strait of Hormuz within seven days. Bank of America forecasts the server CPU market will grow from $61 billion in 2026 to $211 billion by 2030, while AMD's announced GPU commitments with Anthropic, Meta and OpenAI total roughly 14 gigawatts.