AMD shares fall for a second straight session on Tuesday, company unveils Radeon RX 5500 Series graphics products

October 9, 2019 7:15 am

Advanced Micro Devices Inc (AMD) earlier this week unveiled the Radeon RX 5500 series graphics products, which harness advanced RDNA gaming architecture, in order to deliver top-class high-performance, high-fidelity 1080p gaming.

The Radeon RX 5500 series include the Radeon RX 5500 graphics card, which is expected to be available in desktop PCs from top manufacturers, and the Radeon RX 5500M GPU for notebook PCs.

Shares of Advanced Micro Devices Inc closed lower for a second consecutive trading session on NASDAQ on Tuesday. It has also been the steepest daily loss since September 27th. The stock went down 2.42% ($0.70) to $28.23, after touching an intraday low at $27.94, or a price level not seen since October 3rd ($27.43).

Shares of Advanced Micro Devices Inc have surged 52.93% so far in 2019 compared with a 15.41% gain for the benchmark index, S&P 500 (SPX).

In 2018, AMD’s stock went up 79.57%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.

Powered by advanced RDNA gaming architecture and innovative 7nm process technology, the Radeon RX 5500 is capable of generating up to 1.6 times higher gaming performance-per-watt compared to current Radeon graphics cards, which are based on the Graphics Core Next architecture.

Radeon RX 5500 graphics cards will be available in leading desktop gaming systems in early November this year, which include HP’s OMEN Obelisk and Pavilion Gaming desktops and Lenovo Legion T530 and IdeaCentre T540 Gaming PCs.

“Based on feedback and insights from global gaming communities, gamers rank graphics as the most critical component for speed and performance,” Johnson Jia, senior vice president and general manager, Consumer Business of Intelligent Devices Group, Lenovo, said in a statement.

“That’s why the Lenovo Legion T730 and T530 gaming towers and the IdeaCentre T540 Gaming desktop pack in AMD’s latest Radeon RX graphics – satisfying players’ need for high-fidelity visuals and lightning-fast frame rates to fully immerse into their gameplay,” Jia added.

Additionally, the Radeon RX 5500 graphics cards will be equipped in Acer Nitro 50 PCs in early December.

Analyst stock price forecast and recommendation

According to CNN Money, the 30 analysts, offering 12-month forecasts regarding AMD’s stock price, have a median target of $33.00, with a high estimate of $44.00 and a low estimate of $8.00. The median estimate represents a 16.90% upside compared to the closing price of $28.23 on October 8th.

The same media also reported that at least 20 out of 37 surveyed investment analysts had rated AMD’s stock as “Hold”, while 12 – as “Buy”. On the other hand, 3 analysts had recommended selling the stock.

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

Related