Intel's Microprocessor Market Share Decline

According to a Citi note based on data from Mercury Research, Intel's market share in the microprocessor (MPU) segment reached its lowest level since 2006 in Q3 2024.

Key Findings

• Overall MPU Unit Share: Intel's MPU share dropped to 68.4%, a decline of 262 basis points from 71.1% in Q2 2024.

• Desktop Segment:

  • Intel's share fell by 608 basis points to 66.4%.
  • AMD's share increased by 513 basis points to 26.8%.

• Notebook Segment:

  • Intel's share decreased by 171 basis points to 68.9%.
  • AMD's share rose by 174 basis points to 19.8%.

• Server Segment:

  • Intel's share slipped by 33 basis points to 70.5%.
  • ARM's share increased slightly to 7.0%.

ARM's Growth

• ARM showed growth in both desktop and server markets:
  • Desktop MPU share up by 95 basis points to 6.8%.
  • Server share rose by 31 basis points to 7.0%.
  • Notebook segment share saw a slight dip of 2 basis points, now at 11.39%.

Shipment Trends

• Total MPU shipments grew by 1.5% quarter-over-quarter, surpassing a typical seasonal decline of 2.8%.
• Notebook MPU shipments increased by 3.2%, while server shipments rose by 7.0%.
• However, desktop MPU shipments fell by 4.8% due to inventory concerns.

Ratings

Citi maintains a Neutral rating on Intel while keeping a Buy rating on AMD.