A telling chart on American Micro Devices (AMD) against Intel (INTC)

This chart really is quite apt;

Google Finance

AMD has managed to create approximately zero value for shareholders over a 36 year period. In real terms it has consistently underperformed even cash. Intel meanwhile has risen >9,000% and the NASDAQ > 3,500%.

Note also this is with AMD's present lofty valuation.

Disclosure: I have a very modest short position in AMD. I have no interest in Intel Corp.