Advanced Micro Devices, Inc. AMD shares have been languishing since the release of third-quarter results Oct. 24, when the company released tough fourth-quarter guidance including a 12-18 percent quarter-over-quarter sales drop.
The stock is in search of some catalyst that could halt the downward momentum.
Against this backdrop, AMD unveiled its Ryzen PRO desktop processors for enterprise workloads at a Wednesday event in New Delhi. With India being a hot-and-happening economy, this headline should offer a positive color to AMD's outlook.
In pre-market trading, shares of AMD were off 3.33 percent on top of a 2.82 percent retreat Wednesday.
The Ryzen PRO series, launched worldwide earlier this year, has six SKUs in the Ryzen 3, 5 and 7 families.
AMD claims it's the first-ever CPU that offers up to eight core and 16 threads for commercial-grade PCs, according to the publication Tech2.
The processor-level security is ensured by AMD GuardMI Technology, built-in AES 128-bit encryption engine and Windows 10 enterprise security support.
AMD has a strong presence in India, with 16 state governments among its clientele, according to PCmag.
The company had an enviable 40-percent market share in the enterprise segment in the third quarter, the Press Trust of India, or PTI, said, quoting AMD's senior director for enterprise solutions in India.
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