TLDR
AMD stock declined 6.5% in Friday’s premarket trading following Intel’s weak revenue forecast.
Intel shares plunged 25% after its fourth-quarter outlook missed Wall Street expectations.
Intel projected fourth-quarter revenue of $15 billion to $16 billion, below the $17.1 billion forecast.
Intel expects PC chip revenue to drop more than 20% from the previous quarter.
The company warned that weak PC demand could continue through the first half of 2027.
AMD will report third-quarter earnings on November 3, with investors watching PC and data center sales.
Advanced Micro Devices (NASDAQ: AMD ) shares fell 6.5% in premarket trading Friday, October 30, after Intel issued a weaker fourth-quarter forecast. AMD stock declined as investors weighed weak PC demand ahead of the company’s November 3 earnings report.
Advanced Micro Devices, Inc., AMD
Intel Forecast Sends Chip Shares Lower
Intel (NASDAQ: INTC) dropped 25% before the opening bell after projecting fourth-quarter revenue of $15 billion to $16 billion. Analysts expected $17.1 billion. Intel reported third-quarter revenue of $16.5 billion and adjusted earnings of 52 cents per share, above forecasts.
Intel expects PC chip revenue to fall more than 20% from the previous quarter, not total revenue. Intel’s client computing unit recorded $8.1 billion in quarterly sales, down 5% annually. A report on Intel’s latest earnings covered 78% annual growth in data center and AI sales.
AMD Stock Faces Questions Ahead of Earnings
AMD competes with Intel in desktop and laptop processors, but their products and customers differ. Intel’s warning has prompted closer attention to AMD’s PC chip sales, although Intel’s results do not show how AMD performed.
AMD will release third-quarter results on Tuesday, November 3, after US markets close. Management will hold a call at 5 p.m. Eastern. Investors will look for figures on client processors, data center chips, and the company’s outlook for the December quarter.
PC Demand May Stay Weak Into 2027
Intel expects the PC slowdown to last through at least the first half of 2027. Higher memory prices have raised computer costs and reduced demand, according to the chipmaker. AMD’s earnings outlook has drawn attention after options trading suggested a possible 6.8% share price move around its results.
AMD also announced plans this week to invest $1 billion in Meta as the companies expand their artificial intelligence partnership. The agreement concerns AI systems, not PC sales. Demand across those businesses could follow different trends when AMD releases its results.
Amazon Spending Adds to Market Pressure
Other technology shares also fell Friday. Amazon shares fell more than 7% before the market opened following its quarterly results. Concerns about Amazon’s AI spending added to the weakness in technology stocks as Nasdaq futures declined.
Intel’s forecast left traders assessing demand across chipmakers, including AMD, Nvidia and Qualcomm. AMD’s November 3 report will provide direct evidence of its sales and margins. Friday’s premarket decline reflects market reaction, not a reported change in AMD’s performance.
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