AMD/ARM continue to gain share over INTC - report

Investing.com -- Bank of America told investors on Thursday that AMD and ARM have extended their gains over Intel in the second quarter.

The bank revealed in a note that AMD posted “strong CPU revenue share gain… up +120bps QoQ to 29.5%, and extending its +300bps gain in CY24,” and ARM “gaining strongly in servers.”

According to Mercury Research data cited by BofA, overall PC CPU units rose 1% quarter over quarter, helped by “tariff-related pull-in orders.”

Intel shipments are said to have grown 2% and AMD’s 1%, while ARM shipments fell 4%.

Intel gained notebook unit share but “continued losing desktop unit share (-390bps QoQ)… as INTC currently lacks proper offering vs. AMD’s refreshed Ryzen 9000 series.”

BofA noted Intel’s average selling prices (ASPs) rose 1% QoQ but trailed AMD’s 9%, with Intel’s PC value share slipping another 60bps QoQ to 64.1%.

In desktops, AMD units surged 17% QoQ versus Intel’s 4% drop, driving AMD’s desktop value share up 470bps to 37.3%.

In servers, total units increased 2% QoQ, led by ARM’s 15% growth and AMD’s 1% gain, while Intel was flat.

BofA highlighted AMD’s “new Zen 5 Turin products with higher core counts” and server value share rising to 37.1%, its highest in over a decade. ARM’s server unit share climbed to 13%, up 150bps QoQ, with BofA expecting it to exceed 15% by 2027.

BofA reiterated Buy ratings on AMD and ARM, citing “PC/server share gains” and “faster hyperscale adoption” for ARM.

Intel remains Neutral, with CPU share losses potentially offset by a “strategic/financial turnaround” and benefits from insourcing wafers in 2026.

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