Advanced Micro Devices Inc. (AMD) Stock Jumps On Sony NEO, Nintendo NX Rumors

Advanced Micro Devices Inc. stock jumped upwards of 30 percent to 3.41 at the start of trading Friday, bolstered by the news that AMD is working on processors for three new gaming consoles. Amid declining PC sales, AMD has turned to the video game industry to reverse slumping revenue. At the market's close Thursday, AMD's stock sat at 2.62, but after-hours trading saw a jump of 24 percent based on what analysts called a strong first quarter. Leading the charge was the potential 1.8 billion revenue from three semicustom processor "wins" for new consoles. The revenue would be spread out over the next three to four years, AMD CEO Lisa Su said on an earnings call Thursday.