AMD stock rose over 3% for the day, giving the chipmaker a market capitalization of $153 billion. Intel fell nearly 9%, a day after disastrous earnings that missed expectations for profit and showed declining revenue. Intel’s market cap was $148 billion at the end of trading on Friday.
The shift is mostly symbolic, but it signifies a much more competitive market for PC and server chips, where the two companies compete directly.
I don’t report on financials anymore (unless it’s something truly unique), but this one I wanted to highlight simply because it highlights just how well AMD is doing. Only a few short years ago, this would’ve been unimaginable. Meaningless, sure, but a sign of the times nonetheless.