Why AMD Stock Popped After Intel's Earnings Beat

Shares of rising Intel (NASDAQ: INTC) rival and fellow semiconductors giant Advanced Micro Devices (NASDAQ: AMD) popped in early trading on the Nasdaq Friday, the first day after Intel's disappointing Q1 2021 earnings report. Intel, if you haven't heard, actually beat on its Q1 earnings. Regardless, Intel reported a steep 540 basis point decline in its gross margin to 55.2%, and it saw its operating margin cut nearly in half as the company spent heavily to race to catch up to its rivals in advanced computer chips.