Amd shares rise after launch of ryzen 3000 and navi

Advanced Micro Devices (AMD) received rave reviews this week for its latest third-generation Ryzen PC chips, raising its shares back to near its highest record. A Wall Street analyst raised its AMD share price target above average due to the positive response to new processors at tech sites overall.

AMD shares rise again and augur a great year for the red company

AMD announced on Sunday the global availability of its third generation of Ryzen processors for desktop computers, as well as the new Radeon graphics cards. Processors and graphics cards target the high-end PC gaming market. The chips are based on AMD's industry-leading 7-nanometer designs.

AMD shares were up 3.5% and closed today at $ 33.15 on the stock market. In intraday trading, the stock rose to $ 33.18. Shares hit a record high of 34.30 on June 10.

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AMD likely to gain PC market share with new chips

Nomura Instinet analyst David Wong reiterated its AMD share purchase rating on Monday and raised its target price from 33 to 37.

The new PC chips should help AMD increase its market share in desktop computers, Wong said. According to him, AMD's market share in this segment will increase to 20% or more in the last quarter of the year, compared to 17% in the quarter that ended in March. AMD has been eroding Intel's domain for a while now.

This may be one of AMD's best years, especially powered by its third-generation Ryzen chips and the arrival of its long-awaited EPYC 'Rome' processors in the server segment.

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