AMD has surpassed Intel in terms of market cap. That occurred in February when team red's $49 billion all-stock acquisition of Xilinx increased its market cap to $197.75 billion, surpassing Intel's $197.24 billion by $51 million.
AMD stayed ahead of Intel for a few weeks before Chipzilla reclaimed its supreme position. However, Intel's disastrous quarterly report resulted in a 22% year on year loss of $15.3 billion and a $454 million net loss, which represents a ten percent YoY decline.
Intel's stock plummeted by almost $5 to $36 following the publication, bringing its market cap down to $148.47 billion at the time of writing.
AMD's quarterly results aren't expected until tomorrow, but the company is expected to reverse the doom and gloom trend by demonstrating significant growth. Revenue is expected to be $6.5 billion, a 70% YoY increase, and while its shares are down significantly from the start of the year, the price has risen by 22.8 percent in the last month, increasing AMD's market cap to $153.09 billion, almost $5 billion more than Intel.
Market caps are calculated by dividing the share price by the number of outstanding shares in a corporation. They're mostly symbolic but can help illustrate a firm's current fortunes.
Intel is still the dominant CPU vendor in the Steam survey, although AMD has been eroding that percentage for years, as a result of the Zen architecture in 2017. Later this year, Zen 4 and Raptor Lake will launch in stores, making it interesting to watch the next game between these two tech giants.
Intel announced in its financial report that it would close its Optane memory business, ceases developing 3D Xpoint technology, and has sold off its drone business.