AMD (NYSE:AMD) Shares Get Boost from Intel's (Nasdaq:INTC) Blunder

The chip error of Intel's (Nasdaq:INTC) has given shares of AMD (NYSE:AMD) a boost today, as Intel scrambles to manufacture new chips to replace the faulty ones.

Intel is expected to take a charge of $300 billion on lost revenue in the quarter as a result of their blunder.

AMD shares have jumped over 5 percent in response to Intel's debacle. AMD is Intel's chief rival in the chip sector.

AMD was trading at $7.96, gaining $0.47, or 6.28 percent, as of 12:32 PM EST. Intel was down to $21.20, falling $0.25.