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Advanced Micro Devices (NASDAQ: $AMD) unveiled the AMD Radeon RX 7900M, touted as the fastest laptop graphics card ever developed. The chipmaker’s stock climbed 2.2% at the opening bell on Thursday. The chipmaker has seen its shares climbing 63% year-to-date and will report its Q3 earnings later this month.

‘Fastest AMD Radeon Laptop Graphics Ever Developed’

Shares of AMD rose 2.2% higher at the market open on Thursday after the chipmaker announced the AMD Radeon RX 7900M – the “fastest laptop graphics ever developed.” The stock stood at $104.42 per share at the time of writing.

The new high-performance graphic processing unit (GPU) was built on AMD RDNA 3 architecture, delivering 7% higher performance than the competitive product in select games at QHD resolution. According to the press release, the new graphics card offers 72 AMD RDNA 3 compute units powered by new AI and second-generation raytracing accelerators.

In addition, the GPU is equipped with 16GB of high-speed GDDR6 VRAM and AV1 encoding, among other things. The chip manufacturer also said that the new AMD GPU powers the latest addition to the Alienware m18 laptop family.

“The Alienware m18 is our most advanced and powerful AMD Advantage laptop, designed to deliver no-compromises, desktop-level performance for gaming and content creation applications.” – Frank Azor, chief architect of Gaming Solutions and Marketing at AMD.

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AMD Up 63% YTD, Q3 Report Set to be Released on Oct. 31

AMD investors have enjoyed the 2023 tech sector rally, with the chipmaker’s shares surging over 63% year-to-date. The stock has benefited from various factors, including broader strength in the semiconductor sector, solid Q2 earnings, and the ongoing AI boom.

Still, the company is not without its challenges. The semiconductor company has been grappling with waning demand for its central processing units (CPUs) lately, mainly due to declining sales in the PC market. During the first six months of 2023, AMD’s revenue fell 14% year-over-year to $10.7 billion.

Looking ahead, AMD is set to report its Q3 2023 financial results on October 31, after the close of the market. According to Yahoo Finance data, analysts expect AMD to report earnings per share (EPS) of $0.68 in the third quarter on revenue of $5.69 billion.

What are your expectations for AMD’s stock performance for the remainder of 2023? Let us know in the comments below.