Advanced Micro Devices, Inc. [NASDAQ: AMD] is in the green in pre-market trading this morning. That’s in spite of the sluggish start to the week for most stock tickers. The bullish sentiment around this stock is driven by the release of their PC gaming platform that will be available worldwide. The new leadership PC gaming platform is based on the company’s Randeon RX 5700 series graphic cards. It is also based on the company’s 3rd generation Ryzen desktop processors and the 3000 series processors that come with Randeon Graphics. It’s a gamer’s dream, and as per the company, is aimed at pushing gamers’ limits. According to the company CEO, Dr. Lisa Su, AMD has a strong commitment to innovation in a bid to give gamers, content creators and others in the gaming eco-system unparalleled value.
With innovations such as the Randeon RX 5700 graphics card, the company also aims to become more competitive, and regain market share from NVDIA. The graphics card market crashed after demand from crypto miners dried up in 2018. However, the key market players are reinventing themselves with more innovative chips. AMD, which trails NVIDIA in this market, aims to up its competitiveness through cards such as RX 5700. It has already cut prices for these graphics cards from about $379 to $349 to make them more competitive.
These are moves that might help and even possibly impact on its market share as well as on its bottom-line. Investors seem happy with these moves, as can be seen in its pre-market trading activity. Looking at the charts, AMD is currently in a short-term bull trend. In the last week of trading, this stock has been in a bull trend. It had a bullish reversal earlier last week at $30.75 and rose to hit a high of $31.56 on Friday trading. It then corrected slightly to close the day at $31.50. If AMD opens the day above Friday’s high, it could be a signal that bullish sentiment is still in play. However, one thing to note is that the overall market is indicating a lower open in pre-market trading.