Advanced Micro Devices Inc. (NASDAQ: AMD) shares rose by 4% on Monday after the Company announced its new desktop processor, the 2nd Gen AMD Ryzen Threadripper 2990WX processor.
AMD says the 2990WX delivers up to 53% faster multi-thread performance compared to Intel’s (NASDAQ: INTC) Core i9-7980XE as well as offering up to 47% more rendering performance. The Threadripper is integrated with new improved AMD SenseMI technology with Precision Boost 2 and Extended Frequency Range 2 (XFR2).
“We created Ryzen Threadripper processors because we saw an opportunity to deliver unheard-of levels of multithreaded computing for the demanding needs of creators, gamers, and PC enthusiasts in the HEDT market,” said Jim Anderson, Senior Vice President and General Manager, Computing and Graphics Business Group, AMD. “With the 2nd Gen processor family we took that challenge to a whole new level – delivering the biggest, most powerful desktop processor the world has ever seen.”
The Threadripper 2990WX is built in with 32 cores and 64 threads, priced at USD 1,799.00. The 2990WX will be available on August 13th, 2018.
The Threadripper will also come in three other models, the 2970WX, 2950X, and 2920X. But the 2950X is the most appealing to users and reviewers. The 2950X will have 16 cores and 32 threads, priced at USD 899.00, which will release later at the end August.
“The new Threadripper 2 is no exception—as long as you consider what it’s up against. With 16 cores and a price tag of USD 900— USD 600 less than its Intel competitor—and half the price of its 32-core sibling, the AMD Threadripper 2990WX, the 2950X is a steal.” said Alex Cranz, Senior Review Editor at Gizmodo.
AMD’s new processor announcement has proven that the Company is a dominant chipmaker in the market, allowing its shares to increase by 91.68% this year, outpacing the S&P 500’s 5.71% return as of Monday.
Goldman Sachs saw the AMD’s strong fiscal year and raised the Company’s price target on Friday from Sell to Neutral and increased its price target to USD 21.00, forecasting big market share gains for its server chips over the next two years, according to CNBC.
"We find it increasingly harder to argue our prior bear thesis — even following the recent stock price move — given Intel's struggles with 10nm process technology," analyst Toshiya Hari said in a note to clients Friday. "The delay in Intel's new products will allow AMD to gain share in not only client (i.e. desktop PC, notebook PC) CPUs, but also in the lucrative server CPU market."