AMD Radeon RX Stock Update: RX 570 and 580 Prices Rise Online Due to Scarcity
AMD graphics cards Radeon RX 570 and 580 have been scaling in prices as stocks are depleting. A batch sold for retail at Amazon apparently netted a price as high as $700 per unit, and things could worsen.
Consumers might find plenty of listings for Radeon RX on Amazon, which should answer issues with scarcity. But then clicking on these links will show unusually high prices when purchased. Digital Trends has a rundown of the observed price discrepancy. For instance, a $210 listed price for a Gigabyte Radeon RX 580 Gaming 4GD is actually $700 on Amazon.
The surprising shift in price is not entirely AMD's fault. Allegedly, cryptocurrency miners have been hoarding RX 570 and 580 to the point that many stores have since ended up having them either out of stock or low on stock, or the stores have been jacking up the prices of Radeon RX 570 and 580.
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Those into cryptocurrency make use of graphic cards for mining coins, which can then be traded at Bitcoin for cash. Reports further stated that AMD did not anticipate their products would be exploited in this manner even as similar incidents have happened before. Even older AMD graphic cards have become in demand as well.
AMD has since enjoyed higher shares in the stock market because of the growing demand for its products among cryptocurrency participants. The company, however, reiterated its main market is composed of gamers and not those into Bitcoin and similar platforms.
"The gaming market remains our priority," a spokesperson told CNBC. "We are seeing solid demand for our Polaris-based offerings in the gaming and newly resurgent cryptocurrency mining markets based on the strong performance we are delivering."
NVIDIA graphic cards are also experiencing a rise in demand. AMD's products, however, have better integrity. The company's partners in developing hardware are said to be concerned about this new development.
