Investors are watching Advanced Micro Devices , Inc. (NASDAQ:AMD) after the stock gained value amid Apple ’s announcement of new iMacs. The new machines will be powered by AMD’s chips. AMD also skyrocketed last week after Bitcoin surged to new highs. AMD’s GPUs are used to mine bitcoins. But analysts think that these are the temporary drivers for AMD stock. And they seem to be right.
The stock is down over 3% today. Advanced Micro Devices , Inc. (NASDAQ:AMD) is facing a tough completion from Intel in the PC market. And experts also think that bitcoin miners prefer NVidia’s GPUs. AMD could only get a sustainable growth if it’d work on its core business. The company recently launched a high-end server CPU Epyc. Advanced Micro Devices , Inc. (NASDAQ:AMD)’s CEO thinks that Epyc will take a whopping 10% market share away from Intel .
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