Another blow to Intel? Rival AMD will launch what it calls "the world's fastest gaming processor" in September

As indicated by the nearly 32% decline in the PHLX Semiconductor Sector Index, which tracks the semiconductor industry, stocks of these companies have been hit hard in the market this year. Included in this index are shares of Advanced Micro Devices, which have also fallen significantly. Notwithstanding, AMD held a conference Monday night to kick off a season full of announcements of next-generation products that aim to reign in video games and challenge Intel's strength.

At a time of declining demand for PCs, Advanced Micro Devices $AMD late Monday night launched a new generation of processors that will be available this fall. In doing so, the company boasted the world's fastest gaming processor, which could draw some attention and sales.

"The Ryzen 7000 series is the world's absolute first desktop processor with 5 nanometers," AMD CEO Lisa Su told the audience in a presentation in Austin, Texas,…