AMD is trading 1.62% higher on Friday. If the stock price closes up, it would mark the fourth straight day of gains.
The streak is the longest for the company since July 5, when AMD went on another four-day streak of closing higher than the previous day. AMD’s 52-week high is $15.65, and the company is currently 15.5% lower than that high.
The upward move follows the release of AMD’s new Ryzen Pro line of CPU chips on Thursday August 31. The new chips are aimed at the high-end professional and business markets. They are eight-core, sixteen threaded processors that AMD says are a first for commercial-grade CPUs. The multiple cores and threads allow for faster multitasking.
The Ryzen Pro processors will be used in computers from major manufacturers like HP, Lenovo and Dell, according to AMD.
The launch of the Ryzen Pro processors is only the latest announcement from AMD, which has released new products at a rapid pace over the last month. The company announced its Vega line of graphics processing units, which are still sold out at many online retailers. It also released its Ryzen Threadripper processors, which are also aimed at the high-end of the computing market.
All of these moves put it on a better footing to take on incumbents Intel and Nvidia. Intel is one of the largest CPU makers while Nvidia produces some of the most popular GPUs on the market.
Nvidia is leading the pack this year, and is up 66.92%. AMD is up 16.8% while Intel has slipped 3.84%.
- Markets Insider