I feel like they have a strong portfolio going forward, though. Diversifying into ARM, Southern Islands is behind the door conquering the consumer compute space, focus on heterogeneous compute.
They are only in trouble in the spaces where their x86 processors have to compete with Intel. They don't have their own fabs anymore, they aren't a die node ahead like Intel, and they are also just in terms of raw revenue an order of magnitude smaller than Intel. That isn't a fight to win, and they have been stuck in this low-cost no-margins commodity cpu space for a while.
They are definitely a potential opportunity. To my understanding, many analysts are disturbed by falling gross margin, because in the Intel space high gross margin is important. But, according to some articles I've read, lower gross margin is a natural part of the semi-custom sort of work the company is doing now, like the Xbox & Playstation chips.
They are only in trouble in the spaces where their x86 processors have to compete with Intel. They don't have their own fabs anymore, they aren't a die node ahead like Intel, and they are also just in terms of raw revenue an order of magnitude smaller than Intel. That isn't a fight to win, and they have been stuck in this low-cost no-margins commodity cpu space for a while.