What happened Shares of Intel (NASDAQ: INTC) plummeted on Friday, following the release of its second-quarter earnings report and conference call. As of 3:20 p.m. EDT, Intel's stock was down more than 16%. So what Intel's Q2 revenue climbed 20% year over year to $19.7 billion, driven by strong growth in its data-focused businesses. Its adjusted earnings per share, meanwhile, increased by 16% to $1.23. Both figures were above Wall Street's estimates. Analysts expected revenue and adjusted EPS of $18.5 billion and $1.11, respectively. Intel stock plunged on Friday. Image source: Getty Images. However, Intel gave investors multiple causes for concern. At 53.3%, Intel's gross margin was down sharply from the 59.8% it reached in the prior-year period and the lowest it's been in more than a decade. Falling gross margins typically reflect higher costs and an inability to pass those costs on to customers. Worse still, Intel said the launch of its new 7-nanometer chips would be delayed by roughly six months. Analysts say the delay will give rival Advanced Micro Devices (NASDAQ: AMD), which has already begun selling its 7-nanometer chips, a significant advantage. AMD's stock, in turn, rose sharply on the news. Now what There were already concerns that AMD's new chips -- due to their significantly improved performance and advanced graphics capabilities -- would begin to take share from Intel. A 6-month delay will only add to Intel's troubles and likely accelerate AMD's market share gains. Should this scenario play out, more pain could lie ahead for Intel's shareholders. 10 stocks we like better than IntelWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Intel wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy.Source