3 Reasons Advanced Micro Devices, Inc. Stock Could Rise
Shares of Advanced Micro Devices (NASDAQ: AMD) have exploded since bottoming out in early 2016, gaining an astonishing 650% since hitting its lowest point 17 months ago. Anticipation has been the main driver of these gains, with investors betting that a slate of new products would return the company to its former glory.
Ryzen, AMD's new line of PC CPUs, launched in March, with high-end chips coming first and mainstream chips coming later. EPYC, AMD's latest foray into the server chip market, was detailed last month. And Vega, the company's first serious attempt at a high-end GPU in years, is now available in a professional card, with gaming cards coming soon.
The stock has been volatile in 2017, with the price swinging up and down due to product launches and for various other reasons. A thoroughly debunked rumor that AMD had licensed its graphics technology to rival Intel (NASDAQ: INTC) drove some big gains and some big losses, and graphics card shortages created by intense, but likely ephemeral, demand from cryptocurrency miners have been pushing up the stock in recent months.
Source: Fool.com