Here’s Why AMD Stock Hit 13-Year High Yesterday


Jul. 14 2019, Updated 9:33 p.m. ET

AMD stock makes a new 52-week high

On June 10, Advanced Micro Devices (AMD) stock rose as much as 5.8% to $34.3, making a new 13-year high before closing at $33.23. AMD’s stock rose above its 52-week high of $34.14 after the company announced its next-generation 7-nm (nanometer) products and design wins at the E3 (Electronic Entertainment Expo) Next Horizon Gaming Event.

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AMD’s E3 highlights

Microsoft announced that AMD’s custom CPU (central processing units) and Navi GPU (graphics processing units) will power its next-generation Xbox game console named “Project Scarlett” due to release in the 2020 holiday season.

AMD also lifted curtains off its 7-nm Navi GPUs, Radeon RX5700X and Radeon RX5700, for desktops. These GPUs will be priced at $449 and $379, respectively, and hit the market on July 7. AMD also announced a 50th Anniversary Edition GPU, the Radeon 5700 XT, priced at $499 and available exclusively at AMD.com. AMD made a surprise announcement of a 16-core, 32-thread Ryzen 9 3950X desktop CPU scheduled for launch in September and priced at $750.

AMD stock trades at 13-year high

The above announcements drove AMD stock to a new 52-week high of $34.3, a level that it last reached in May 2006. We expected the stock to rise in the high single digits and cross the $35 mark on the E3 announcement. We still believe that the stock might hit $35 this week as investors start reacting to product announcements and analysts’ upgrade of AMD.

Since Computex 2019 on May 28, AMD stock has risen 25.7%. YTD, the stock is up 80%. This growth surpassed AMD’s 2018 growth of 79.57%.

AMD’s stock has outperformed peers NVIDIA and Intel, which have risen 11.2% and -0.3% YTD. AMD also outperformed the VanEck Vectors Semiconductor ETF, which rose 22.2% YTD.


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