Advanced Micro Devices shares fell about 8% in Friday premarket trading as semiconductor stocks declined following Intel's earnings release and guidance on Thursday after trading ended. Intel shares dropped 25.51% in premarket trading, also pressuring ASE Technology Holding, SK Hynix and Astera Labs. Benzinga Pro data showed AMD shares at $521.00, down 8.02%, at publication.
Intel posted third-quarter earnings of 52 cents per share, exceeding the consensus forecast of 40 cents. Intel generated $16.51 billion in revenue, above the $16.47 billion consensus estimate. However, Intel's fourth-quarter guidance drove the share decline. Intel forecast adjusted earnings of 25 cents per share, compared with a consensus estimate of 43 cents. Intel projected revenue between $15 billion and $16 billion, below the $17.05 billion consensus forecast.
Intel CEO Lip-Bu Tan said demand for Intel CPUs remained strong despite near-term difficulties in the PC industry. Tan said Intel's immediate priority was increasing supply to satisfy extraordinary demand for the Xeon family.
Intel and AMD both compete in PC processors and server CPUs, making Intel's weak guidance relevant to demand and supply conditions affecting both companies. Intel's comments could prompt questions about PC demand and the extent of chip supply constraints across the sector. AMD operates a client business in the PC market, although data centers have recently driven AMD's growth. A sharp decline at a major chipmaker also tends to depress semiconductor stocks as investors cut exposure to shares that have risen. TIKR data show AMD shares have gained about 170% this year.
AMD said on October 27 that Meta had installed Helios rack-scale solutions and was testing the systems ahead of broader deployment in the near future. AMD EPYC processors support the computing infrastructure behind Meta's Muse AI agent. AMD technologies support Meta models, including Muse Spark Open and Muse Glimmer, from launch. Meta has deployed millions of EPYC processors and is a lead customer for 6th Gen EPYC. Meta uses AMD Instinct GPUs in production systems for training, ranking and recommendations. Meta will also deploy a customized AMD Instinct GPU using the MI450 architecture. AMD will invest $1 billion in Meta's equity offering.
The partnership expands on a February agreement under which Meta would deploy up to 6 gigawatts of AMD Instinct GPUs. The February agreement included a performance-based warrant covering up to 160 million AMD shares. AMD chair and CEO Lisa Su said operating Helios at Meta was expanding the partnership to a new scale in the superintelligence era.
AMD reported second-quarter revenue of $11.54 billion, an increase of 50%. AMD's second-quarter data center revenue more than doubled to $6.7 billion. AMD will release third-quarter results after trading ends on November 3. Analysts expect earnings of $1.95 per share. Analysts forecast revenue of $13.09 billion.
AMD Shares Drop 8% Amid Intel's Weak Guidance and Market Pressure
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Summary
AMD shares fell about 8% in premarket trading on October 30, 2026, as the fear and greed index turned bearish amid broader market pressure. Semiconductor stocks declined following Intel's earnings and weak Q4 guidance. Intel shares dropped 25.51%, dragging down peers like ASE Technology Holding, SK Hynix, and Astera Labs. Intel reported Q3 earnings of 52 cents per share, above estimates, but guided for 25 cents in Q4—well below the 43 cents expected. AMD reported Q2 revenue of $11.54 billion, up 50%, with data center revenue more than doubling to $6.7 billion. AMD is set to release Q3 results on November 3. Trading volume in the sector surged as investors reacted to the news.
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