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AMD Launches a New Advanced Gaming Card Priced at $479

Advanced Micro Devices' new Radeon RX 6700 XT graphics card will be available starting on March 18.

Chipmaker Advanced Micro Devices  (AMD) on Wednesday released a new advanced gaming card amidst a wider-ranging chip shortage that has hurt the auto and other industries in the U.S. and worldwide.

Priced at $479, the AMD Radeon RX 6700 XT graphics card, will be available for purchase from March 18.

"For most gamers still playing on three-to-four-year-old graphics cards, it is the perfect upgrade solution designed to deliver incredible visuals and no-compromises, high-refresh 1440p gaming performance at maximum settings," said Scott Herkelman, corporate vice president and general manager, Graphics Business Unit at AMD, in a statement.

During the lockdown, demand for such graphics cards increased as homebound consumers bought laptops, gaming consoles and other devices.

PC vendor HP  (HPQ)  is expected to refresh two desktop gaming systems this spring using AMD's new graphics card, the company said.

“Gamers are routinely on the lookout for the latest cutting-edge technologies to excel and immerse themselves in their favorite games,” said Judy Johnson, gaming platform head, HP Inc., in a statement. “We’re thrilled to add the new AMD Radeon RX 6700 XT graphics cards in our OMEN 25 and 30L Desktops to help power epic adventures across the globe."

The AMD Radeon RX 6700 XT can be integrated with more than 40 games and provides higher bandwidth at the same power level, while its MD Radeon Anti-Lag decreases input-to-display response times, making games more responsive, among other features.

Last month, the chipmaker posted fourth-quarter earnings that exceeded expectations, with AMD reporting fourth-quarter adjusted earnings per share of 52 cents versus analyst expectations of 47 cents. Revenue was $3.24 billion vs. expectations of $3.03 billion.

Shares of the Santa Clara, Calif., company slipped 3.27% to $81.34 at last check during trading on Wednesday. Over the last year, they are up almost 75%, compared to a 28% gain for the S&P 500.