Why Advanced Micro Devices (AMD) Stock Is Up Today

NEW YORK (TheStreet) -- Advanced Micro Devices (AMD) was gaining 2.3% to $3.97 Tuesday following the announcement of the Radeon R9 295X2, which the chipmaker claims is the "world's fastest graphics card."

The new graphics card combines two R9 Series GPUs in one card with a closed-loop, pre-assembled liquid cooling system. The two GPUs promises to run many games at maximum settings at 4K resolutions, while the liquid cooling system should keep the card cool and quiet.

The AMD Radeon R9 295X2 also uses AMD TrueAudio technology to bring virtualized surround sound to any stereo headset.

"AMD is thrilled to launch the AMD Radeon R9 295X2 graphics card, built on the same award-winning Graphics Core Next (GCN) architecture that powers the gaming industry," Matt Skynner, corporate vice president and general manager, Graphics Business Unit, AMD said in a press release. "This record-shattering dual-GPU card will enable industry-leading audio and visually stunning 4K gaming, proving once again that Radeon is gaming."

The AMD Radeon R9 295X2 will be available in late April for $1499.

Must read: Warren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates ADVANCED MICRO DEVICES as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ADVANCED MICRO DEVICES (AMD) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

Wall Street Deflates in Pullback After Fed Excitement, No Records for Dow

Your Guide to Making a Lot of Money on the Driverless Car Boom