I bought 300 shares of AMD yesterday in anticipation of this announcement, but also because I think the company has a lot of upside. After all, this goes along with my bottom fishing description of beat up companies that deserve better.
From BusinessWire:
AMD (AMD, Trade ) today announced ATI XGP(TM) (External Graphics Platform) Technology, a new external PCI Express(R) (PCIe) 2.0 graphics platform, designed to deliver enthusiast-class desktop graphic performance and true multimedia upgradeability to notebooks(1). ATI XGP is an exclusive technology that capitalizes on PCIe 2.0 to deliver enthusiast-class graphics via a connected cable to an externally powered and cooled device. This unique innovation delivers up to 4.0 Gbyte/s in each direction in bandwidth communication between the notebook and external graphics, whereas previous consumer level external solutions were limited in graphics bandwidth(2). ATI XGP is fully optimized for new AMD Turion(TM) X2 Ultra notebook platforms, also announced today.
I think what investors have been waiting for is for AMD to make sense of their acquisition of ATI last year, which I think we are now seeing.
The company can now offer a nearly all in one solution with their processors and graphics chips now and compete at a higher level in the marketplace.
Shares of AMD jumped 6% in morning trading.
I own shares of AMD
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