Intel Corp. INTC, -0.85% shares are down 2.5% in Thursday morning trading, while Advanced Micro Devices Inc. AMD, -2.11% shares are up nearly 5%, after Intel announced that it was promoting its interim chief executive, Bob Swan, to the top spot on a permanent basis. He had been Intel's chief financial officer since 2016. "The initial reaction" in the stocks suggests that Swan's appointment "could open up a window for AMD to be more competitive on the server and GPU technology roadmap," wrote Mizuho's Vijay Rakesh, given that Swan isn't a "technologist." Intel has stumbled lately with its 14-nanometer and 10-nanometer roadmap, Rakesh said. Wells Fargo analyst Aaron Rakers said in a note to clients that "we think many investors were hoping Intel would name an outside CEO." Intel shares are down 0.8% over the past three months, as AMD's stock has gained 33% and the Dow Jones Industrial Average DJIA, -0.87% has fallen 0.9%.