For those saying that Intel continues to print money and AMD's revenue are no concern, here is a comparison of their revenues over the last few years as well as AMD's stated projected growth model results appended to the end. I then assumed (obviously a very large assumption) that half of AMD's growth Y/Y comes from Intel. If this holds, in just 3 years, AMD becomes a very formidable competitor (in terms of revenue). I plotted to 2024 because that's when Intel's 7 nm should be in full swing assuming no major delays (yes Intel is saying 7 nm in 2023 but it will take some time to get it to be really high volume and start to outpace all the 10 nm and 14 nm production).
Obviously this is a very basic 'what if' scenario, but at least on AMD's side, they have been consistently hitting or exceeding their projections for the last couple of years and have created a lot of confidence that they will continue to do so going forward. There are still lots of variables at play as TAM continues to expand, ARM becomes more competitive, FAB costs increase, etc. etc., so this is just a small piece of what could be, but you can see that even if things go well for Intel, they will most likely have to find ways to make up for a significant amount of lost revenue to AMD in the next few years. AMD's console/semi-custom revenue isn't expected to see significant growth (and will most likely shrink) in the next few years, so almost all their growth should be CPU/GPU related and most likely heavy on the CPU.
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