The stock market may be at an all-time high, but some stocks have lagged behind.

The stock market is on a roll. As of this writing, the S&P 500 , Nasdaq Composite , and Dow Jones Industrial Average are all at -- or approaching -- all-time highs. That said, there are still some stocks that have lagged the benchmark indexes.

Today, let's take a look at one such name and why it may be lagging: Advanced Micro Devices ( AMD -0.23% ) . And is this an opportunity now for investors?

How Advanced Micro Devices' stock has performed

First, let's recap AMD's recent performance. The stock has been on a roller coaster for much of the last three years. As you can see in the chart below, AMD stock soared from a low of around $56 to a high of $211 during a roughly 18-month run that be

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