Dallas, Texas 02/11/2014 (FINANCIALSTRENDS) – Advanced Micro Devices, Inc. (NYSE:AMD), the Sunnyvale incorporated semiconductor specializes in the production of X86 microprocessors. In the run up to the New Year, the stock has seen traded below par at 13.7%. Surprisingly, the stock prices have superseded the lowest price point on the 52 week range by over 50%, recording $2.26.
Optimistic on revenue earned from gaming console licenses
Advanced Micro Devices, Inc. (NYSE:AMD) has been providing computing solutions for Xbox One as well as PS4. This has meant that the company makes for the losses it incurs due to fall in the PC business front.
Advanced Micro Devices, Inc. (NYSE:AMD) also earns royalty from the previous generation of gaming consoles it has already provided. With the transition from the license-based use to chip-based business model, the earnings and revenue on the technology side continues unabated, though on a lesser scale.
Advanced Micro Devices, Inc. (NYSE:AMD) also sees intense competition on the low-end PC market side as well from the likes of Intel Corp. This multi-technology giant brings several competitively priced products targeted at low-cost tablet market segment, making deep in-roads into AMDs major consumer base.
Launches new API
Advanced Micro Devices, Inc. (NYSE:AMD) had a new kit for developers, with the launch of the beta driver Catalyst software. The Mantle API, is the software required for graphic card support and is expected to see good reviews for the same.
Advanced Micro Devices, Inc. (NYSE:AMD) as evaluated by analysts currently stands at $3.98 Target Price. The current prices for the stock are priced $3.47 as of close of trading. The microprocessor maker has a market cap of $2.66 billion and EPS of -0.11. Beta is 2.40. The Infra-day trading low-point for Feb 10, was $3.45 against the high of $3.64. The stock has received analyst backing and is likely to surge past the current gains of 4.61%.