Advanced Micro Devices (NASDAQ:AMD) has a history of eating away at rivals’ dominance by delivering superior products, as evidenced by its

Advanced Micro Devices shares extended their recent run of declines Wednesday after a top Wall Street analyst cautioned that the chipmaker could continue to trail its peers' performance well into the new year.

News sent the VanEck Vectors Semiconductor ETF 0.71% lower, but AMD stock was one of the worst performers in the group. AMD’s poor performance is rooted in its decidedly bearish technical trend. Shares of AMD shifted into a bearish trend in November as the stock’s 50-day moving average rolled over into a declining pattern.

AMD (NASDAQ: AMD) stock is losing ground in Wednesday's trading. The semiconductor company's share price was down 3.6% as of 11:45 a.m. ET and had been down as much as 5.2% earlier in the session. AMD stock is falling today on the heels of bearish coverage from HSBC.