Advanced Micro Devices, Inc. (NASDAQ:AMD) has joined with The Associated Press to form a new virtual reality experience channel to fuel next-generation journalism. As part of the collaboration between the companies, AP will leverage AMD Radeon™ graphics technology to render lifelike VR environments built around news and documentary content, and AMD will provide the hardware platforms, software technology and VR expertise to support AP’s journalism in VR and 360 video.
VR journalism is a new age of truly captivating and experiential news that can put all of us at the heart of the events that shape our world. On the scene and in the moment, virtual reality can free us to learn and explore another time and place as if we were there. From the shouts and cries to the cheers and parades, VR journalism presents a rare opportunity to experience the world seemingly from within.
“VR can help people achieve a visceral experience of news and documentaries so they can feel what it’s like to actually be there,” said Raja Koduri, senior vice president and chief architect, Radeon Technologies Group. “The technology can enable us to figuratively walk in another’s shoes, leading to greater understanding and empathy.The Associated Press is one of the most trusted sources of independent newsgathering, and AMD is a leading innovator for computing and visualization technologies. AMD Radeon graphics are designed to power the most realistic experience possible for audiences everywhere, and together with AP we’ll work to fuel the expansion of the global VR ecosystem.” (Original Source)
Shares of Advanced Micro Devices are up nearly 2% in pre-market trading. AMD has a 1-year high of $3.23 and a 1-year low of $1.61. The stock’s 50-day moving average is $2.19 and its 200-day moving average is $2.09.
On the ratings front, AMD has been the subject of a number of recent research reports. In a report issued on January 20, Credit Suisse analyst John Pitzer maintained a Sell rating on AMD. Separately, on the same day, UBS’s Stephen Chin reiterated a Sell rating on the stock and has a price target of $1.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, John Pitzer and Stephen Chin have a total average return of 14.6% and 7.0% respectively. Pitzer has a success rate of 58.2% and is ranked #89 out of 3610 analysts, while Chin has a success rate of 47.6% and is ranked #440.
Overall, 2 research analysts have rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $2.70 which is 47.5% above where the stock closed yesterday.
Advanced Micro Devices Inc is a semiconductor company with facilities around the world. It operates in two segments: Computing Solutions and Graphics and Visual Solutions.