Intel’s latest earnings report may have disappointed shareholders, but it could be setting up a compelling second-order trade in semiconductors. As Intel Corporation (NASDAQ:INTC) sold off following weak guidance and continued manufacturing concerns, investors began looking for the biggest potential beneficiary of Intel’s struggles. That’s where Advanced Micro Devices, Inc. (NASDAQ:AMD) enters the conversation.

For traders and long-term investors alike, the idea of an AMD stock buying opportunity is gaining traction because the market dynamic is straightforward: when demand is strong but one supplier can’t fully meet it, market share doesn’t vanish—it shifts. In the booming AI-driven server market, those shifts can happen faster than many expect.

Intel’s forecast and its disclosures in its latest filings point to a critical issue: supply constraints and slower-than-market growth in server CPU shipments. If those constraints persist, AMD could be positioned to capture incremental demand in data centers, enterprise computing, and AI infrastructure buildouts.

Why Intel’s Selloff Matters Beyond INTC Shares

Intel (NASDAQ:INTC) dropped after CEO Lip-Bu Tan offered a weak outlook and warned that manufacturing challenges remain unresolved. That alone would be enough to pressure sentiment, but what makes this situation more meaningful is what it implies about Intel’s ability to keep pace in a market that is accelerating.

AI infrastructure spending is creating unprecedented demand for server chips. Cloud providers and enterprise customers need CPUs and accelerators at scale, and they need them now—not years from now.

When Intel struggles to meet demand, customers don’t necessarily delay deployments. Instead, they source alternatives. This is the foundation of the AMD stock buying opportunity thesis: AMD is one of the only credible x86 competitors positioned to absorb that overflow demand, particularly in server CPUs.

Intel’s 10-K Reveals Signals of Server CPU Pressure

A key data point came from Intel’s newly filed 10-K, where external foundry revenue offered more insight into how Intel’s supply chain and demand environment are evolving.

Wells Fargo analysts noted Intel’s full-year 2025 external foundry revenue was about $307 million, including roughly $222 million in the fourth quarter. Some of that jump was influenced by corporate restructuring and the deconsolidation of Altera, which Intel partially sold to Silver Lake.

But the more important takeaway wasn’t the foundry revenue itself—it was what the filing suggested about Intel’s server CPU trajectory.

Analyst estimates indicate Intel’s server CPU volumes rose around 9% year over year in 2025, while average selling prices fell roughly 4%. That combination hints at weaker pricing power and a shift toward lower core-count products.

Even more telling, estimates suggested Intel’s server CPU shipments grew around 8% year over year in Q4, which trails broader market growth estimates in the 15% to 17% range. If the overall server market is expanding faster than Intel’s shipments, it implies someone else is filling the gap—and AMD is the most obvious candidate.

That’s why investors increasingly see an AMD stock buying opportunity forming from Intel’s execution issues.

Supply Constraints Could Accelerate AMD’s Market Share Gains

Both Intel and AMD design processors using the x86 architecture, meaning they compete head-to-head in PCs and servers. In the server CPU market, Intel’s Xeon lineup has historically been dominant, but AMD’s EPYC chips have steadily gained share thanks to performance improvements, better efficiency, and strong customer adoption.

If Intel is facing internal supply constraints—particularly around its Intel 7 technology used in server CPUs—it may struggle to deliver enough product to meet current demand. Intel has acknowledged progress on manufacturing yields, but also admitted it has not yet reached industry-leading levels.

In a world where AI data center buildouts are happening at breakneck speed, “not enough supply” can be just as damaging as “not enough demand.” And it creates the perfect conditions for an AMD stock buying opportunity, especially if AMD can scale production and continue delivering competitive performance.

Wall Street Analysts Are Turning More Constructive on AMD

Multiple analysts have echoed the view that Intel’s constraints could be directly positive for AMD.

Piper Sandler, for example, raised its price target on AMD (NASDAQ:AMD) to $300 while reiterating an Overweight rating, pointing to enthusiasm around AMD’s prospects into 2026 and continued server CPU share gains.

UBS analysts also framed Intel’s difficulty meeting demand as “very positive for AMD,” suggesting AMD may be gaining server share rapidly.

While analysts don’t always agree on timing, the broader message is consistent: Intel’s weakness could translate into AMD strength, reinforcing the AMD stock buying opportunity narrative.

All Eyes on AMD’s Q4 Earnings Report

AMD (NASDAQ:AMD) is scheduled to report Q4 results soon, and expectations are already elevated. Analysts are looking for revenue of about $9.67 billion, up more than 26% year over year, while EPS is projected around $1.32, up roughly 21%.

The biggest focus will be the Data Center segment, which is expected to drive growth through:

• EPYC server CPU adoption

• Instinct GPU accelerator demand (MI300/MI350 roadmap)

• AI infrastructure spending across hyperscalers and enterprises

Investors will also watch gross margin trends closely, since margins can reveal whether AMD is gaining share through strength—or through aggressive pricing.

Another key element is AMD’s ability to scale beyond chips and into full AI systems. The company’s acquisition of ZT Systems adds capabilities in rack-scale AI server design, helping AMD compete more directly in integrated AI deployments—an approach pioneered by Nvidia Corporation (NASDAQ:NVDA).

What Analysts Expect for AMD Stock Next

Wall Street currently rates AMD as a “Moderate Buy,” with many analysts still bullish but acknowledging competitive pressures and valuation sensitivity. The average price target sits around $286, implying meaningful upside from current levels.

If AMD’s earnings and guidance confirm accelerating data center momentum, the case for an AMD stock buying opportunity could strengthen quickly.

Bottom Line: Intel’s Problems May Be AMD’s Catalyst

Intel’s post-earnings selloff isn’t just a story about Intel. It may be a signal that supply constraints and slower server shipment growth are reshaping the competitive landscape.

For investors, the key takeaway is that strong demand is still there—especially in AI infrastructure. If Intel can’t fully deliver into that demand, AMD (NASDAQ:AMD) has a clear path to capture incremental share. That’s exactly why this moment may represent a real AMD stock buying opportunity, particularly ahead of AMD’s highly anticipated Q4 report.