Advanced Micro Devices (NASDAQ:AMD) shares are trading higher after Intel Corporation (NASDAQ:INTC) announced its 7nm product transition has been delayed and expects to see initial production shipments in the first half of 2023.
Advanced Micro Devices, which is a competitor to Intel, will likely benefit from Intel's delay.
AMD designs and produces microprocessors for the computer and consumer electronics industries.
AMD's stock was trading up 12.33% at $66.80 per share on Friday at the time of publication. The company has a 52-week high of $66.95 and a 52-week low of $27.43.