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We study a class of discrete-time bidirectional ring neural network model with delay. We discuss the asymptotic stability of the origin and the existence of Neimark-Sacker bifurcations, by analyzing the corresponding characteristic equation. Employing M-matrix theory and the Lyapunov functional method, global asymptotic stability of the origin is derived. Applying the normal form theory and the center manifold theorem, the direction of the Neimark-Sacker bifurcation and the stability of bifurcating periodic solutions are obtained. Numerical simulations are given to illustrate the main results.