> Another way to look at it: Intel market cap is 83B, AMD's market cap is 228B. Do you think Intel is expected to make 1/3 of the money AMD is going to make in coming decades? I see no reason to be as optimistic.
Nit: market cap is not earnings. That's stock price * shares outstanding.
This year's earnings looks like this:
Intel, 3 months ended: Jun 29, 2024
> Net income (loss) (1,654)
https://www.intc.com/news-events/press-releases/detail/1704/...
AMD, 3 months ended: June 29, 2024
> Net income (loss) $ 265
https://ir.amd.com/news-events/press-releases/detail/1209/am...
So Intel lost 1654M and AMD earned 265M. This only makes your point stronger.