Santa Clara’s AMD raises full-year forecast as beleaguered chip rival Intel stumbles

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Santa Clara’s AMD raises full-year forecast as beleaguered chip rival Intel stumbles

Late on Tuesday, the Santa Clara, California-based semiconductor industry leader Advanced Micro Devices Inc. or AMD, had heightened up its full-year revenue forecast, partly driven by a thaw at its American chipmaking industry rival Intel Corp.’s business activities, while an overall upswing in semiconductor demand over a global-scale shift to work-from-home had aided in the Santa Clara-based chipmaker’s causes.

Apart from that, followed by the reveal of AMD’s full-year profit forecast, shares’ prices of the California-headquartered semiconductor company surged as much as 10.34 per cent to $74.60 a share in post-market trading after wrapping up the day down by 1.97 per cent to $67.61 apiece.

As of Tuesday’s market closure AMD stocks had gained about 50 per cent this year over robust demands of data-centre chips alongside a noticeable weakness in rival chipmaker Intel Corp.’s business activities.

AMD feeds on Intel’s market share, data-centre demand

Apart from that, AMD’s quarterly earnings’ report for Q2, 2020 alongside full-year profit forecast came forth a day after its American long-time rival Intel Corp.

had been quoted saying the company’s 7-nm chip technology had been delayed by at least six months, while AMD has begun to take hold of Intel Corp’s market share with offerings on Taiwan Semiconductor Manufacturing Co.

Ltd.’s 7 nanometre processor technology. Besides, speaking with the reporters at a post-earnings’ conference call, AMD Chief Executive Lisa Su was quoted saying, “The full-year raise is because demand has gone up from our initial expectations, and some of that is due to the market, and some of that is due to the strength of our product traction.

We are increasing capacity to meet those needs. But it is tight,” adding that the American multinational chipmaker’s move to meet an additional demand of 7-nm chips would be tight as hundreds of potential customers were switching from Intel Corp.