AMD Falls 11% as Intel's Nearly 30% Plunge on Weak PC Demand, Server Chip Shortages Weighs on Sector

Advanced Micro Devices (AMD) fell 11% to $204.80 on Friday, dragged down by Intel's (INTC) nearly 30% single-day plunge after its earnings exposed weak PC demand and insufficient server chip supply. AMD reports next Tuesday, November 3, after the market close, when investors will learn whether the problems reflect an industry-wide trend or Intel-specific missteps. Bernstein analyst Stacy Rasgon noted third-party estimates put global Q3 PC shipments down about 20% year over year, steeper than the single-digit percentage decline in Q2. Cantor Fitzgerald's C.J. Muse said Intel's PC chip volumes fell 45% year over year, and Morningstar's Brian Colello said Intel's pessimistic PC outlook through year-end and 2027 could weigh on all companies with PC exposure. PC is a smaller share of AMD's revenue — likely under a quarter this year versus more than half of Intel's client computing segment, per StoneX's Cody Acree, who said Intel is "far more affected, but AMD isn't fully insulated." On servers, Muse said Intel is "clearly losing share" to AMD. BofA's Vivek Arya cited AMD's AI GPU sales and expanding Helios rack-scale shipments as a strong offset.