Advanced Micro Devices, Inc. (NASDAQ:AMD) is set to release their new Ryzen Central Processing Unit (CPU)  on March 2nd, 2017. It is said that Inventory has already been sold out at some retailers. The demand for Ryzen could further shoot up if the initial feedback on the processors is good. I think that this is a great entry point into the stock (I Just picked up some shares today).

The Ryzen 7 processor became the highest selling CPU on within hours of its launch on Feb 22nd. Ryzen 5 is scheduled for a quarter 2 release, while Ryzen 3 will be released in the second half of 2017.

Leaked information has shown that Ryzen can outperform its competition, namely Intel. Faster processing is not the only positive to AMD’s chips. AMD products are much less expensive than Intel’s. Ryzen is both faster (by 10%) and cheaper (by $500) than Intel’s recently-released equivalent Kaby Lake processor. Better performance matched with aggressive pricing is sure to catch the attention of Intel and their die hard fanboys.

Hedge fund manager Joel Greenblatt, author of the “Little Book that Beat the Market”, has initiated a new position in Advanced Micro Devices. He initiated a new position in chipmaker AMD with 93,768 shares worth $1.06 million. Although this is a relatively small position for the fund it does indicate a vote of confidence in the stock’s outlook.

Given its revenue growth forecast, the upcoming Vega preview, and the Ryzen launch, AMD stock is likely to rocket even higher in the coming months.