Advanced Micro Devices (AMD) stock was down on Monday despite the leak of new AI chips from the semiconductor company. The latest leak reveals the Ryzen AI MAX+ 495 as the flagship chip of the company’s upcoming Gorgon Halo line of processors.
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Alongside the other details that leaked about the Ryzen AI MAX+ 495 were specs for the computer it was installed in. These details include an interesting 192 GB of RAM, which is more than the 128 GB of RAM supported by current-gen Strix Halo chips. This suggests that the Gorgon Halo line will be even more effective at running AI large language models (LLMs) than Strix Halo ones.
While the latest AMD leak is worth noting as the company continues to carve out a space in the AI sector, it isn’t the only news affecting the stock today. AMD was also hit with two Hold ratings from analysts today. One was from a downgrade, and another came with a price target drop. Both of these have weighed down the company’s shares on Monday. These analyst updates came ahead of AMD’s earnings report tomorrow.
AMD Stock Movement Today
AMD stock was down 5.14% on Monday but was still up 59.7% year-to-date. The stock has also increased 258.43% over the past 12 months.
As of this writing, some 23 million shares of AMD stock have changed hands today, compared to a three-month average daily trading volume of about 32.47 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 17 Buy and nine Hold ratings over the past three months. With that comes an average AMD stock price target of $308.09, representing a potential 9.86% downside for the shares.
