Chip maker Advanced Micro Devices Inc.’s stock increased to nearly 10% after introducing promising new products that at a trade show in Taiwan.
AMD Stole The Show At Computex In Taiwan
Computex is a show dedicated to personal computers that was hosted by Chief Executive Lisa Su in Taipei, Taiwan.
According to Market Watch, Cowen analyst Matthew Ramsay expresses admiration for AMD. It is announced that products are expected to launch over the next six months. Ramsay adds that these products are highly anticipated by the market and it will surely trigger above-consensus growth, share gains, margin expansion, and AMD share appreciation.
Kevin Cassidy, a Stifel analyst, who has a buy rating and a $34 price target on AMD, emphasized that AMD’s product launch is remarkable. Cassidy says that the announcement signifies the first-time that a company has taken the desktop CPU process-technology and performance dominance from Intel for over 50 years.
AMD Launches Ryzen 3000-Series
In addition, AMD launched its line of Ryzen 3000-series central processing units at Computex that are expected to be released to the public by July.
AMD’s Ryzen 3000-series features new graphics processing units which challenged Nvidia Corp.’s superiority in the gaming market.
Aaron Rakers, Wells Fargo analyst, compared AMD’s Radeon RX 5000-series GPUs to Nvidia’s RTX 2070 GPUs and highlighted that AMD has a 10% average performance advantage compared to Nvidia.
AMD Is Stepping Up The Game
Other chip maker companies have forecast a slow-moving 2019. AMD, on the other hand, has been doing great since the beginning of the year and it seemed like they have a brighter future ahead.
Recently, AMD celebrated its 50th anniversary. And on Tuesday, Intel shares fell 2.2% and Nvidia shares dropped 1.3%.
Out of the 34 analysts who cover AMD. 14 have buy ratings, 15 have hold ratings, and five have sell ratings. According to FactSet, the average price target is $28.59.