Why Advanced Micro Devices Stock Triumphed Today
Advanced Micro Devices (NASDAQ: AMD), a stock very much in the public eye due to its association with artificial intelligence (AI) functionalities, saw a nice little jump in price on Thursday. It rose by nearly 4% on the back of an announcement about two new products, plus a significant price target increase by an analyst. With this performance, it well exceeded that of the benchmark S 500 index, which slid by 0.3% on the day.
That morning, AMD formally heralded the arrival of a pair of workstation graphics cards, the Radeon PRO W7500 and W7600. These latest models in the storied Radeon family hold 8 gigabytes of GDDR6 memory and are targeted for applications that can be graphics-intensive, such as computer-aided design (CAD).
In its press release regarding the two new cards, AMD quoted its general manager of the graphics business unit as saying, "Our goal is to offer more choice for professional users, and these graphics cards do exactly that -- built to address the largest market segment focusing on mainstream workloads."
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 81 Buy predictions and 2 Sell predictions.
With a target price of 176 € there is a positive potential of 34.54% for Advanced Micro Devices Inc. compared to the current price of 130.82 €.
