AMD has once again surpassed its processor (and soon-to-be GPU) rival Intel in terms of market capitalization. The companies swapped places after Intel revealed a very difficult quarter that saw it lose half a billion dollars. AMD, meanwhile, will report its second-quarter earnings tomorrow (Tuesday, August 2), when it's expected to confirm strong growth over the three months.
This isn't the first time AMD has passed Intel when it comes to market cap. That happened
in February when team red's $49 billion all-stock takeover of Xilinx boosted its market cap to $197.75 billion, pushing past Intel's $197.24 billion by $51 million.
AMD only managed to stay ahead of Intel for a few weeks before Chipzilla once again became the more valuable company. But that changed in the wake of Intel's disastrous
quarterly report in which it announced a 22% year-on-year revenue decline of $15.3 billion and a $454 million net loss, which represents a 109% YoY fall. Intel blamed the disappointing figures on the same factors that all faltering tech companies
are pointing at: an economy teetering on the brink of recession, falling demand following the lockdown boom, and conservative consumer spending.
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