Advanced Micro Devices, Inc. (NASDAQ:AMD) stock fell 2.69% (As on January 11, 11:14:22 AM UTC-4, Source: Google Finance) after Melius Research upgraded the company to Buy from Hold with a price target of $188, up from $125. The firm believes Generative AI is poised to deliver its “Halo Effect” on IT spending, starting in 2024, and also thinks that outperformers from 2023 can continue. Further, the company has announced new products expanding its desktop portfolio, delivering premium experiences to gamers, content creators and everyday users through extraordinary performance and the power of personal AI processing. AMD is introducing the new AMD Ryzen 8000G Series desktop processors for the AM5 platform, including the Ryzen 7 8700G, with the world’s most powerful built-in graphics. AMD is also bringing the power of a dedicated AI neural processing unit (NPU) to desktop PC processors for the first time with the introduction of Ryzen AI to unlock more AI capabilities for consumers and improve productivity, efficiency, and advanced collaboration. Building on the unprecedented longevity of socket AM4, AMD is introducing new Ryzen 5000 processors, offering users even more choices when it comes to building a system for productivity, gaming, or content creation. The new offerings include the new Ryzen 7 5700X3D, leveraging powerful 3D V-Cache technology to provide gamers with a massive boost in gaming performance.
Moreover, AMD OEM partners including ACER, ASUS, Lenovo, HP and Razer are introducing more AMD Ryzen 8040 Series-powered handheld gaming systems, gaming laptops and personal laptops, with incredible performance for gamers, professionals and consumers of all types, and unlocking AI-ready capabilities for content creation and everyday productivity. First announced at the AMD “Advancing AI” event in December 2023, the Ryzen 8040 Series helps bring new AI PCs to market with its integrated Ryzen AI NPU on select models. The company is thrilled to launch the new Razer Blade 14, the most portable Razer Blade, integrating the AMD Ryzen 9 8945HS processor with Ryzen AI to provide gamers with an unparalleled mobile experience.
In addition, the company announced it will showcase automotive innovation at CES 2024 and expand its portfolio with the introduction of two new devices, the Versal AI Edge XA adaptive SoC and Ryzen Embedded V2000A Series processor. The devices underscore AMD automotive technology leadership and are designed to serve key automotive focus segments including infotainment, advanced driver safety and autonomous driving. Working alongside a growing automotive partner ecosystem, AMD will demonstrate at CES 2024 the broad range of capabilities and applications for these new devices in automotive solutions available today and in the future.