Advanced Micro Devices (AMD) stock was down on Monday after details about the company’s next Ryzen processor leaked. According to these leaks, AMD is targeting 24 cores with its Zen 6 Ryzen processors. This would set it behind Intel (INTC), which is allegedly developing a 52-core CPU.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
However, these same leaks also claim that AMD could reach an incredibly high boost clock of 7GHz or higher. This incredibly high boost clock speed could result in low-power versions of the processor ending up in gaming devices, such as the Steam Deck. If true, it could result in PC gaming handhelds with CPU speeds of 4GHz or 5GHz.
It’s worth noting that AMD is already a favorite among many gaming companies. A custom Zen 2 processor powers the current Steam Deck, and AMD has worked alongside Microsoft (MSFT) on its ROG Xbox Ally X handheld gaming PC coming out later this year. Sony’s (SONY) PlayStation 5 also utilizes a custom Zen 2 processor. Nintendo (NTDOF) is the only member of the big gaming companies not using AMD processors, instead getting its tech from Nvidia (NVDA).
AMD Stock Movement Today
AMD stock was down 0.6% as of Monday morning and has dropped 8.8% over the past 12 months. Even so, the shares are still up 18.3% year-to-date. Reports of a lower core count than Intel’s rival processor likely weighed on shares today, but the boosted clock speed shouldn’t be ignored.
Is AMD Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 23 Buy and 10 Hold ratings over the past three months. With that comes an average AMD stock price target of $133.55, representing a potential 6.54% downside for the shares.
