By Wallace Witkowski
Shares finish down nearly 4% Tuesday as CEO Lisa Su details new CPUs and GPUs coming in 2022 including Radeon RX 6500 XT desktop gaming card that will retail for $199
Advanced Micro Devices Inc. shares fell Tuesday after the chip maker announced new desktop and laptop chips at CES 2022, including a lower-priced gaming card.
AMD (AMD) shares closed down 3.9% at $144.42, after opening up 0.5% Tuesday, as Chief Executive Lisa Su announced new products in an event tied to the annual tech conference in Las Vegas. They fell another 1.6% in morning trading on Wednesday.
Su said the company was releasing 20 new Ryzen 6000 series laptop processors beginning in February, and three new Radeon RX 6000S GPUs for thin gaming laptops. Ultrathin gaming laptops were the fastest-growing PC segment, selling at a rate more than three times faster than traditional gaming laptops, Su said.
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AMD is also releasing five new Radeon RX 6000M GPUs for premium gaming laptops, along with two new desktop gaming cards: the Radeon RX 6500 XT, available Jan. 19 for $199, and the Radeon RX 6400, available in prebuilt systems in the first half of the year.
Back in March, AMD released its Radeon RX 6700 XT for a MSRP of $479, putting it on a price point between Nvidia Corp.'s (NVDA) $399 RTX 3060 Ti card and its $499 RTX 3070 card.
With 8 models released in 2021, AMD said it would release more than 18 models of the Radeon RX 6000 series in 2022 from more than 300 system builders, graphics card partners and original equipment manufacturers.
AMD shares are up 56% over the past 12 months, compared with a 44% gain on the PHLX Semiconductor Index and a 30% gain on the S&P 500 index .
(END) Dow Jones Newswires
January 05, 2022 09:51 ET (14:51 GMT)
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