NEW YORK, NY / ACCESSWIRE / February 13, 2018 / Shares of AMD and Micron Technology both closed up higher in Monday Trading. AMD announced the release of two Ryzen™ Desktop processors to set shares moving higher while Micron traders may still be reeling over two analysts upgrading the stock last week.
RDI Initiates Coverage on:
Advanced Micro Devices, Inc.
Micron Technology, Inc.
Advanced Micro Devices, Inc. shares closed up 3.27% on about 63 million shares traded on Friday. The company introduced yesterday the release of two Ryzen™ Desktop processors with built-in Radeon™ Vega graphics models; the AMD Ryzen™ 5 2400G and AMD Ryzen™ 3 2200G processors. These are the world's most powerful graphics on a desktop processor. The senior vice president and general manager, Computing and Graphics Business Group at AMD, Jim Anderson, remarked, "When we launched our first Ryzen processors a year ago, we began driving innovation and competition across the PC market. We remain dedicated to this mission throughout 2018, as we further strengthen our Ryzen portfolio by adding two leadership APUs designed to meet the varying needs of today's PC users." He continued, "AMD Ryzen Desktop APUs are a perfect example of the innovation we bring to market for consumer and commercial PC users. Combining our high-performance CPU and GPU architectures, this new category of Ryzen desktop processors is designed to deliver a smooth overall computing experience, as well as the ability to enjoy true 1080p HD gaming, eSports or advanced display features through the visual fidelity of the built-in Radeon Vega graphics."
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Micron Technology, Inc. shares closed up 4.40% on almost 48 million shares traded on Monday. Though there was no specific news to move shares higher yesterday, it was last week that shares of Micron saw an 11% gain after two analysts on Tuesday upgraded the stock. KeyBanc and Needham & Co. were the two firms to give Micron Technology various forms of a "buy" recommendation. According to Needham, the stock could nearly double in value in the next year. It was last week that the company preannounced its fiscal second quarter 2018 earnings and said it expects $2.70 to $2.75 per diluted share this year with $7.2 to $7.35 billion in sales. Both numbers were higher than the company's guidance before. Analysts were expecting $7.02 billion in sales and $2.57 per share. Micron's revised forecast would be a 56% YOY sales growth at the midpoint range.
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