REUTERS/Andrew KellyOAKLAND, Calif/BANGALORE, Jan 27 (Reuters) - Microprocessor giant Intel Corp (INTC.O) says it will regain its footing against AMD and other chip rivals which are gobbling up market share, but Wall Street is skeptical.
That's a headwind for Intel and AMD, both of which are rolling out new chips, but Intel is facing a larger inventory correction.
Intel still dominates the markets for PC and server processing chips, with a market share greater than 70%, tech research firm IDC calculated.
Chipmaker shares were hammered across the board on Friday, but Intel led the decline, slumping by 10% while AMD lost 1.8%.
AMD set to overtake Intel in market cap, again AMD set to overtake Intel in market cap, againReporting By Jane Lanhee Lee and Chavi Mehta; Editing by David Gaffen, Peter Henderson, Kirsten Donovan and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.