They won’t cut prices until they have more wafers. If they’re selling at a steady rate cutting prices doesn’t help them sell more cards. They just sell the same amount of cards faster than they would have otherwise and potentially end up not having cards in stock which just incentivizes people to flip cards on eBay.
Unless the supply channel is building up due to low demand, there’s no reason to drop prices.
The 5700xt does not deviate from MSRP very much because demand is steady for it. However it is just steady and sales could be better. We are seeing lots of AIB 5700xt fall under MSRP and AMD had to sweeten the pot by adding a game bundle to the package.
The 5700 series on the other hand goes on sale on a regular basis significantly below it's msrp. It is not difficult to find a 5700 for 299. Even the highest end AIB 5700 goes for 360 dollars which is just 10 dollars over MSRP. So why is this happening?
Logic dictates these sales are happening because demand is not quite meeting supply which is causing the price to fall until demand meets up with supply. The market is correcting itself until an equilibrium is reached where the 5700 true perceived value by the public is reached and demand maintains this value.
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This is also being reflected by Nvidia's gain in marketshare after Navi's release. Nvidia profits grew after Navi's release. Navi accelerated Turing sales which is reflected with Nvidia gaining marketshare since Navi release and Nvidia revenue rising significantly in q3 post Navi. Turing sales were not great prior to this because people were waiting for Navi and were expecting Navi to have Polaris like pricing. When Navi didn't and the super series came out, most people just bought the super series because the 10% better price to performance was simply not enough for people to pick AMD over Nvidia when you add the Nvidia brand and RTX. A gain of 5% in 1 quarter is huge and considering prior to this, Turing had no competition, it shows you Navi actually accelerated Turings sales.
Nvidia significantly increases market share in the quarter
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Turing sales were just so so prior to Navi's release because the percieved lack of value. Now Turing sales are near mining height level because Navi's high price has helped the Turing's high price be accepted by the market place because people were expecting AMD to save the market not cooperate in what looks like a price fixed market.
People flipping Navi cards without mining demand is simply a fantasy for AMD and Nvidia at this point. With all the sales for Navi cards compared to Turing cards, we have the opposite happening with AMD and their AIB partners having to lower pricing for their cards to move.
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