I am running on Windows 8.1 x64, developing Android apps using ADT Bundle. Previously (before updating the Android SDK Tools) the AVD was working very correctly and after th
FIXED
If you are having issues with the HAXM and it's not working to do what everyone else is saying to do try this:
1.Make sure you've already tried the steps above (Enable Virtualization in the BIOS, as well as Uninstall and Re-Install the HAXM option from the SDK Manager)
Exit out of Android Studio.
Download and Instal HAXM DIRECTLY from Intel. https://software.intel.com/en-us/android/articles/intel-hardware-accelerated-execution-manager
Start Android Studio.
Voila!