Investing Club: Why Intel's terrible quarter is good news for rival chipmaker AMD
Club holding Advanced Micro Devices may firmly have the upper hand in its rivalry against Intel . On Thursday, Intel reported terrible quarterly numbers and issued weaker-than-expected guidance, as the chipmaker said softer economic conditions, internal execution errors and competition are weighing on results. Shares of Intel tumbled 9% Friday, touching a fresh 52-week low. AMD shares rallied nearly 3%, outperforming the tech-heavy Nasdaq Composite , which was up about 2%.
Signage at the entrance to the Intel headquarters in Santa Clara, California, U.S., on Tuesday, Oct. 19, 2021.
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