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It is the age-old story of an underdog turning into the pack alpha. Intel, beset by a growing number of headwinds, is now increasingly ceding its market share to the one-time runt of the microchip world, AMD, as per the data leveraged by Bank of America (BofA) in a new investment note.
$AMD / $ARM GAINING PC / CPU SHARE OVER INTEL $INTC, SAYS BANK OF AMERICA:
“We review Q3 CPU trends based on Mercury Research data. Overall, Q3 data suggest a story of two tales, with AMD showcasing clear share gains over INTC.
For PCs, units increased just +1% QoQ (+1% YoY)…
— Stock Talk (@stocktalkweekly) November 11, 2024
To wit, BofA recently leveraged Mercury Research’s data to try to glean CPU trends for the third quarter of 2024. The Wall Street titan found that Intel undershipped in the third quarter, with its PC shipments declining by around 3 percent quarter-on-quarter (QoQ) vs. the market demand, which actually grew by 7.5 percent QoQ, based on IDC’s Q3 PC sell-through units estimate. This allowed AMD to increase its market share by a whopping 15 percent QoQ.
BofA partially explains this discrepancy by noting that “AMD has a greater mix of western consumer and desktop mix vs. INTC more China/enterprise and notebook mix which remain weak.”
On the positive side, Intel and AMD both managed to increase their ASPs by around 5 percent QoQ, aided by the pricier AI PC products.
For servers, BofA found…
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