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Advanced Micro Devices, Inc. (AMD) Stock Is Near Its 10-Year High, Should You Buy Now?

The upcoming Ryzen launch has propelled Advanced Micro Devices, Inc. stock near to its 10-year high. Can AMD stock gain further?

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Shares of Sunnyvale, California-based Advanced Micro Devices Inc (NASDAQ:AMD) are showing no signs of slowing down anytime soon, gaining more than 27% YTD after rising almost 296% in 2016. Of late AMD stock has been up due to the positive initial response to Ryzen CPUs and its official release date getting closer. We already discussed how AMD stock could head higher going into AMD Vega GPU preview. With AMD stock approaching its 10 year high, investors could feel the stock has run up too high. Investors would be wary of buying AMD stock at these levels with technicals also suggesting the stock has entered the overbought zone. However, AMD stock may still defy all odds and could be heading for much higher grounds. AMD stock, which was primarily driven by investor speculation in the past could see the speculations actually turning into reality in the coming days. The question now is, should you buy AMD stock near its 10-year high price?

The Ryzen Advantage.

The Sunnyvale-based chipmaker announced the global launch of AMD Ryzen 7 desktop processors on Feb 22nd with pre-orders starting the same day afternoon. Within hours of its launch on Feb 22nd, Ryzen 7 processors became Amazon’s best-selling CPUs. A Wccftech post reports The Ryzen CPUs hold the three spots out of the top 4 on Amazon’s best sellers list for CPUs. Not only CPUs also "AM4 motherboards for Ryzen processors also occupy the top 3 spots for best-selling desktop motherboards". One important point to note is that these are just pre-orders, one could imagine the kind of market disruption the official Ryzen CPU availability on March 2nd could do, in case of positive reviews from initial users. Time and again we have seen a number of benchmark leaks which have showcased how Ryzen CPUs are outperforming their Intel (NASDAQ:INTC) counterparts on all fronts, that too at much lower prices.

AMD is set to gain significant CPU...


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