Will Advanced Micro Devices Inc (NYSE:AMD)’s New Graphic Cards Make The Cut?

Posted by Steve Raasch October 9, 2013 0 Comment 1458 views

On Tuesday, Advanced Micro Devices, Inc (NYSE:AMD) launched a series of graphics-cards. The company’s new R9 and R8 series Radeon GPU have been used in these cards. The company feels that these new additions are a great launch and is also being bold enough to release an entire range of graphics cards all at one time. This is definitely something that consumers will be happy about. It also gives Advanced Micro Devices, Inc (NYSE:AMD) a competitive edge against rivals like Intel and Nvidia. All these new cards in the company’s line-up will be available with effect from Friday.

Analyst ratings

On Monday, Canaccord Genuity analysts reiterated their “buy” rating on the company shares and now have a PT of $6.00 on the stock. FBR Capital Markets’ analysts hiked their PT from $5.50 to $6.00 and have assigned an “outperform” rating on Advanced Micro Devices, Inc (NYSE:AMD) stock. Ned Davis Research analysts downgraded the company’s shares from “neutral” to a “sell” rating.

Tuesday’s trading

In Tuesday’s trading, Advanced Micro Devices, Inc (NYSE:AMD) dropped by 3.63%. The opening price of the shares was $3.87, which climbed to an intraday high of $3.89 and dipped to a close of $3.72. Approximately 35.91 million shares were traded on Tuesday while an average volume of 26.42 million shares were traded over a 30 day period. The 52-week low of Advanced Micro Devices, Inc (NYSE:AMD) shares is $1.81 and its 52-week high is $4.65. The company has a market capitalization of $2.68 billion.

About the company

Advanced Micro Devices, Inc (NYSE:AMD) is a global semi-conductor company that has operations across the world. It offers X-86 micro-processors. These could be either standalone-devices or could be incorporated as an APU for the consumer and commercial markets, embedded-microprocessors for the commercial client, commercial and consumer-markets and chipsets that are used in mobile devices and desktops

About Steve Raasch

Steve Raasch is a breaking news reporter for GDP insider. During his nearly two decades of editorial experience, Steve has covered a variety of topics including small business, health, personal finance, advertising, workplace issues and consumer behavior. Steve is very passionate about his work. Steve earned a master of arts degree in international relations from the Johns Hopkins University School of Advanced International Studies in Washington.

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