The company over the past decade faced multiple challenges amid the shift from client-server computing toward mobile-cloud services. Some initiatives in the Internet of Things (IoT) and mobile markets underperformed, but there are also signs of progress at the company. The data center group has been a strong performer, and represented 32 percent of Intel’s overall revenues in 2018, the company said in its annual report for that year.
Intel’s overall business remains strong but lacks the growth engine of the go-go PC era. In its third quarter for 2019, revenue was a record $19.2 billion — though top-line growth was essentially flat. Also, net income fell 6 percent to $6.0 billion for that 2019 third-quarter period. Rival AMD, meanwhile, has been a Wall Street darling in recent months. AMD’s stock recently hit an all-time high amid — though analysts also point out that the valuation is sky-high.