Finance

AMD shares are dropping sharply Friday after its main competitor reassured investors about its ability to make enough chips to meet demand.

Intel’s interim CEO Bob Swan said the chipmaker has enough supply to meet its full-year revenue outlook in a letter posted on the company’s website.

Advanced Micro Devices shares are down 7 percent Friday, while Intel’s stock rose 4 percent.

Last week Jefferies told its clients AMD could triple its market share due to Intel’s chip shortage issues.

Earlier this month, J.P. Morgan said Intel isn’t making enough processor chips to meet demand and that will be a problem for PC sales this holiday quarter. The firm estimated the Intel processor and chipset shortage will hurt fourth-quarter PC shipments by 5 percent to 7 percent.

Products You May Like

Articles You May Like

Stock market at record finds a new foe: ‘Elizabeth Warren is the new Wall of Worry’
Why these investors might face a surprise tax bill around the corner
GoDaddy shares surge on its biggest-ever buyback plan
Here are the hidden benefits of a Roth IRA conversion
How to avoid a big tax penalty on your retirement savings

Leave a Reply

Your email address will not be published. Required fields are marked *