Advanced Micro Devices, Inc. (NASDAQ:AMD) released two models of its highly anticipated, Ryzen™ Threadripper™ high-end desktop processors, AMD Ryzen™ Threadripper ™1950X and AMD Ryzen™ Threadripper™ 1920X. During an already record-setting year for the company through the successful launch of several award-winning Ryzen™ desktop processors for the AM4 platform, today’s release of Ryzen Threadripper marks a major step forward in performance and features for the high-end desktop market, with the new processor exceeding the expectations of even the most demanding developers, researchers, prosumers, creators, and multi-tasking gamers. Built around the new AMD x86 “Zen” core architecture, Ryzen Threadripper delivers overwhelming power, unrestrained potential, and indisputable supremacy over comparable products in the market.1
“The level of global support and excitement built-up around AMD Ryzen processors has been incredible to watch these last few months, and with today’s Ryzen Threadripper launch, we deliver a new level of computing power to the world’s fastest ultra-premium desktop systems via an entirely new platform and set of multi-core processors,” said Jim Anderson, senior vice president and general manager, Computing and Graphics Group, AMD. “Ryzen Threadripper is the jolt of innovation that the high-end desktop customer was waiting for, providing the long-awaited ability to choose a processor that best fulfills their computing needs at a competitive price.”
Shares of AMD closed yesterday at $12.83, down $0.28 or -2.14%. AMD has a 1-year high of $15.65 and a 1-year low of $5.66. The stock’s 50-day moving average is $13.59 and its 200-day moving average is $12.84.
On the ratings front, AMD has been the subject of a number of recent research reports. In a report issued on July 31, Wells Fargo analyst David Wong reiterated a Buy rating on AMD. On July 26, Merrill Lynch’s Vivek Arya maintained a Buy rating on the stock and has a price target of $18.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Wong and Vivek Arya have a yearly average return of 16.8% and 18.4% respectively. Wong has a success rate of 70% and is ranked #209 out of 4628 analysts, while Arya has a success rate of 57% and is ranked #271.
Sentiment on the street is mostly neutral on AMD stock. Out of 24 analysts who cover the stock, 12 suggest a Hold rating , 9 suggest a Buy and 3 recommend to Sell the stock. The 12-month average price target assigned to the stock is $13.79, which represents a potential upside of 7% from where the stock is currently trading.
Advanced Micro Devices, Inc. is a global semiconductor company that develops computer processors and related technologies for business and consumer markets. It design and integrate technology for intelligent devices, including personal computers, game consoles and cloud servers. It operates through the following segments: Computing and Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop, notebook processors, chipsets, discrete GPUs and professional graphics. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, dense servers, semi-custom SoC products, engineering services and royalties.