Why Intel Could Lose More Ground to AMD

Intel 's (NASDAQ: INTC) fiscal 2020 first-quarter results were a tad disappointing as the chip giant withdrew its full-year guidance on account of the uncertainty caused by the novel coronavirus pandemic.

Though the company managed to turn in impressive numbers for the quarter, delivering 23% annual revenue growth and a 63% increase in adjusted earnings per share (EPS), the second-quarter earnings guidance fell short of expectations. Intel's guidance points toward a 12% increase in revenue and a 4% improvement in EPS, which pales in comparison to the prior quarter.

This sharp drop-off means Intel may not be able to sustain its coronavirus-driven momentum. One of the reasons why that may be the case is the fact the company continues to lag rival Advanced Micro Devices (NASDAQ: AMD) on the technology curve.