Advanced Micro Devices, Inc. (NASDAQ: AMD) is having an incredibly strong day in the market today, and for good reason. There’s a rumor that a new product will be made available relatively soon. Of course, this is leading to excitement among investors, sending the stock upward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:07), AMD is trading at $10.60 per share after a gain of $0.42 per share (4.13%) thus far today.
AMD Gains On Rumored Product Launch
For Advanced Micro Devices, the conversation surrounding the stock has been focused on Radeon RX Vega, the company’s new custom cards that many believe will send sales skyrocketing. At the moment, rumors are breaking that the company may be releasing Radeon RX Vega graphics cards at Computex.
Up to now, there has been little leaked about this new product coming down the line. We’ve heard a rumor that the company will have less than 16,000 units available in the months following the launch. However, today, the rumors are rolling that Computex will host the launch at Computex 2017, which takes place on May 30th.
The rumors surfaced as VideoCardz started reporting that PowerColor has been sending out invitations to the media for meetings during Computex. In the invitations, a quote about showing off “new technologies and other latest products” is being interpreted by many as a lead that Radeon RX Vega will be released.
Nonetheless, rumors happen in the market all the time. While there is a good chance that Computex will be where we learn more about Radeon RX Vega by AMD, it’s important to remember that most market rumors prove to be invalid. So, if you’re going to trade on this news, make sure to trade with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AMD. In particular, we’re interested in learning more about Radeon RX Vega and hopeful that Computex will be where we hear about the launch. We’ll continue to follow the story closely and bring the news to you as it breaks!
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