Advanced Micro Devices (AMD) stock was down on Tuesday despite reports that the semiconductor company is still testing chips for Sony’s (SONY) PlayStation 6. According to the latest leaks, AMD is still validating chips that will be used in the PS6. The source of this leak, Kepler_L2, claimed that this suggests the PlayStation 6 won’t be delayed.
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This is good news for AMD, as a delayed PlayStation 6 launch could also delay revenue that would be generated for the company by the video game console’s release. It also implies that supply chain constraints in the tech space are starting to be sorted out despite the AI boom.
Sony has yet to reveal a release period for the PlayStation 6. Even so, leaks claim that the device will be released sometime in late 2027 or early 2028. The latest comments suggest that Sony won’t delay the PlayStation 6 to late 2028, which has been a rumor going around gaming circles online.
AMD Stock Movement Today
AMD stock was down almost 1% on Tuesday but was still up 1.78% year-to-date. The stock has also increased 181.52% over the past 12 months.
AMD stock movement today saw some 11.65 million shares change hands, which was below the company’s three-month average daily trading volume of about 36.13 million shares.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 21 Buy and eight Hold ratings over the past three months. With that comes an average AMD stock price target of $284.68, representing a potential 30.64% upside for the shares.
