By Wallace Witkowski
Stock declines after AMD CEO Lisa Su's keynote address at virtual tech conference
Advanced Micro Devices Inc. shares swung lower Tuesday after the chip maker announced a new line of laptop and data-center chips.
At CES 2021, AMD Chief Executive Lisa Su said in a keynote address that the company was rolling out the Ryzen 5000 line of CPU chips for ultrathin and gaming laptops. Su said the new Ryzen chips allow a laptop to run 17.5 hours in normal use or for up to 21 hours of movie viewing on one charge. The chip is expected to debut in more than 150 models of laptops this year, with the first models coming out in February.
Su also announced that AMD was releasing its third-generation Epyc processor, code-named "Milan," for use in data centers, with more details to be released in the first quarter.
AMD (AMD) shares, which were flat at the beginning of keynote and were up as much as 1.5% during the keynote, declined after the keynote's conclusion and were last down about 1.5%.
CES, the most watched technology trade show of the year, is taking place virtually this year because of the COVID-19 pandemic, leading to a flurry of announcements from chip makers and other tech companies.
Rival Nvidia Corp. (NVDA)made a similar announcement to AMD on Tuesday (a new line of gaming laptops based on the company's 30-series GPUs that will start rolling out in late January. Nvidia shares were down less than 1%.
Intel Corp. (INTC) shares, on the other hand, were up 3.5% following the chip maker's unveiling of four new lines of its Xeon processors () late Monday. Intel is looking to rival AMD and Nvidia with 7-nanometer discrete gaming chips manufactured by Taiwan Semiconductor Manufacturing Co., according to a report late Monday from Reuters ( ).
See also: Intel's next-generation chip delay expected to be 'increasingly painful ()
The PHLX Semiconductor Index was up 0.8% Tuesday, versus a 0.2% decline on the S&P 500 index and a 0.1% decline on the tech-heavy Nasdaq Composite Index.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 12, 2021 13:27 ET (18:27 GMT)
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