Shares of Intel and AMD Have Plummeted in the Last Few Days. Is It Time to Panic?

Intel and AMD stocks have declined sharply in early July after strong gains in 2026, but analyst Keithen Drury argues this is not a buying opportunity. Both companies are expensive turnaround plays that are significantly underperforming their dominant rivals—AMD versus Nvidia in GPUs and Intel versus TSMC in foundries. With valuations already pricing in future growth that may not materialize, the analyst recommends selling Intel and AMD in favor of their better-positioned competitors.