Advanced Micro Devices AMD recently unveiled Ryzen Embedded V3000 series processors with the Zen 3 core to the V series portfolio. The newly launched processors are designed to provide greater CPU performance using less power compared with the older V1000 series for systems operating in a 24*7 operating environment with a heavy workload.The processors are already being shipped to leading original design manufacturers and original equipment manufacturers (OEM) and address the growing demands of enterprise and cloud storage and data center network routing, switching and firewall security features.While AMD experienced rising revenues due to higher sales of desktop and notebook PC processors in the second quarter of 2022, the company expects growth to slow down in the third and fourth quarters due to falling demand for PCs.In the second quarter, AMD’s Client segment, which includes desktop and notebook PC processors, surged 24.5% year over year to $2.15 billion and accounted for 32.9% of total revenues.However, per International Data Corporation, PC sales were down 15.3% year over year to 71.3 million units during the June quarter, which was higher than the first quarter's decline rate of 5.1% and is the worst fall in many years. This is expected to continue in the coming quarters.To counter this issue, AMD has been diversifying its product portfolio to cater to trending high-growth markets like cloud, gaming, data center and EV.The company has constantly been improving the performance of its Ryzen processors to help address the increasing proliferation of Artificial Intelligence (AI) and Machine Learning in industries like cloud, gaming and data center.Advanced Micro Devices, Inc. Price and Consensus Advanced Micro Devices, Inc. price-consensus-chart | Advanced Micro Devices, Inc. QuoteAMD Expanding Portfolio to Boost Top-Line GrowthShares of AMD have lost 53.3% compared with the Zacks Electronics - Semiconductors industry’s and the Zacks Computer and Technology sector’s declines of 37.9% and 34.9%, respectively, in the year-to-date period.AMD is suffering from global supply chain challenges in the semiconductor industry, the Russia-Ukraine war and increasing inflation.Further, as it ventures into new markets, the company faces rising competition from the likes of NVIDIA NVDA.NVIDIA is giving AMD tough competition in the high-performance computing (HPC) market. NVIDIA’s Grace CPU superchips have been benefiting from the rapid proliferation of AI while the company is expanding its base in untapped markets like climate science, energy research, space exploration and digital biology.Nevertheless, AMD, which currently has Zacks Rank #3 (Hold), is expected to benefit from its plans to address new markets, accelerate data center growth, and enter the AI and Augmented Reality spaces with its launch of various new products by building strategic partnerships with companies like Dell Technologies DELL and OEM partners Hewlett Packard, Acer and Lenovo. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.AMD recently collaborated with Dell to launch the most powerful 17” AMD Advantage laptop — Alienware m17 r5 Gaming Laptop.The recent collaboration with Dell will help AMD benefit from the rising gaming industry that will attain $545.98 billion by 2028, witnessing a CAGR of 13.20% between 2021 and 2028, according to Fortune Business Insights.AMD has also collaborated with Meta Platforms META to enter the Metaverse.The company has become Meta’s ecosystem partner, and AMD’s radio chip, Xilinx Zynq UltraScale RFSoC, will be utilized to develop a metaverse-ready radio access unit.The launch of Ryzen V3000 series will address the growing needs in the data center market, which AMD expects will drive its top-line growth. For the third quarter, AMD expects revenues to be approximately $6.7 billion, up 55% year over year. The Zacks Consensus Estimate for revenues is pegged at $6.68 billion, indicating a 54.7% rise from the year-ago reported number. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report Dell Technologies Inc. (DELL): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research