Intel and AMD Stock Performance in 2026
In 2026, Intel (NASDAQ: INTC) and AMD (NASDAQ: AMD) investors saw significant returns, with Intel’s stock tripling and AMD’s rising approximately 140% by mid-year. However, both companies have experienced a downturn since July, with AMD’s stock down over 10% and Intel’s experiencing a 20% decline.
Market Position and Competition
AMD is striving to capture market share in the data center space, reporting a 57% year-over-year revenue increase to $5.8 billion. Conversely, Nvidia, its main competitor, achieved $75.2 billion in revenue, marking a 92% year-over-year growth during the same period. Intel’s foundry division, which competes with Taiwan Semiconductor Manufacturing (NYSE: TSM), grew by 16% to $5.4 billion, but was still overshadowed by TSMC’s revenue of $35.9 billion, a 41% increase from the previous year.
Valuation Concerns
Currently, AMD trades at 70 times forward earnings, while Nvidia is at 22.8, and Intel is priced at 100 times forward earnings compared to TSMC’s 27.5. Analysts suggest that both companies’ future earnings must substantially increase—AMD needs to triple its earnings, while Intel’s must quadruple—to align with their current valuations.
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