NEW YORK - Advanced Micro Devices is gaining share in the lucrative market for server chips, the latest sign it's benefiting from close ties to a major Taiwanese factory partner to win orders from larger rival Intel.
The admissions sparked a selloff in Intel stock and underscored the ways Intel is being surpassed by TSMC, which in turn helps TSMC's partners. "We delivered our highest client processor revenue in more than twelve years," she said."We believe our growth was largely driven by our eleventh straight quarter of market share gains."Despite the optimism, Ms Su reminded analysts that AMD is"in the early innnings" of its journey to where it expects to be.
Under Ms Su, AMD has revamped its products and come surging back from what analysts had said was the brink of insolvency. Investors now want the company to justify its soaring valuation by growing to become more than just an afterthought to computer makers. The stock has almost doubled over the past year.