Advanced Micro Devices (NASDAQ:AMD) is likely to witness strong demand for its products on Cyber Monday. The company has slashed the prices of its recently launched Ryzen 7000 family of Zen 4 processors. It is worth mentioning that one of the company’s latest products, Ryzen 9 7900X, is being offered at an all-time low price on Amazon (NASDAQ:AMZN) for Cyber Monday.
The AMD Ryzen 9 7900X is a powerful Raphael series high-end desktop processor. It was launched in late August this year and faced stiff competition from Intel’s (NASDAQ:INTC) 13th-Gen Raptor Lake CPUs. The price cut is likely to spike consumers’ interest in AMD’s product.
Based in California, Advanced Micro Devices develops computer processors and related technologies for business and consumer markets. Shares have declined 26.3% over the past six months.
Is AMD a Buy?
The Street’s Moderate Buy consensus rating for Advanced Micro Devices stock is based on 20 Buys and seven Holds. The average AMD stock price target of $84.30 implies 12.19% upside potential.