Why AMD Stock Could Rise as PS5 and Xbox Supply Stabilizes

AMD (NASDAQ: AMD) is one of the world's leading semiconductor companies, providing computing hardware such as processors, motherboards, graphics cards, and more for some of today's most sought-after technology. The company's stock is down more than 20% in the last six months but that could all change thanks to AMD's key position in the production of Sony's (NYSE: SONY) PlayStation 5 and Microsoft's (NASDAQ: MSFT) Xbox Series X/S.

AMD supplies processors and graphics cards for both of those current leading video game consoles. Sony reported selling 10 million PS5s in July 2021, making it the fastest-selling console in the company's history. Microsoft similarly revealed in the same month that its Xbox Series X/S consoles were its "fastest-selling consoles ever, with more consoles sold life-to-date than any previous generation." Both gaming machines were first launched in November 2020 as the next generation of consoles, replacing the PlayStation 4 (2013) and Xbox One (2013).

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Source Fool.com