Advanced Micro Devices (AMD) stock was down on Monday after some of the company’s Ryzen processors received deep discounts for Amazon’s (AMZN) Prime Day event.
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First up is the AMD Ryzen 9 9950X. It’s being sold for $434 during Prime Day, which is a 33%, or $215, discount compared to its MSRP. Next is the Ryzen 5 9600X, which is priced at $165 during Prime Day. This is a 41%, or $114, discount compared to its normal price. These deep discounts are perfect for professionals and hobbyists looking to purchase new PC parts. The Ryzen processors included in the Prime Day sale are ideal for those looking to build a powerful workbench or gaming PC.
Prime Day starts tomorrow and will last through Friday, but some deals have been posted early. That explains why AMD’s chips are already discounted. Saving money on a processor is great for gamers, as it allows them to spend more on graphics cards. While there are some graphics cards discounted on the AMD Amazon store right now, the price drops aren’t anywhere close to as good as the deals for the processors.
AMD Stock Movement Today
While consumers will likely be pleased by AMD’s deals on its Ryzen processors, investors aren’t in the same boat. As a result, shares of AMD stock were down 1.7% on Monday but remain up 11.66% year-to-date. Traders will also note the stock has fallen 22.82% over the past 12 months.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 24 Buy and 10 Hold ratings over the past three months. With that comes an average AMD stock price target of $133.62, representing a potential 1.52% downside for the shares.
