It is not just AMD that is causing the damage. ARM is also a very capable challenger in the data center space. With big corporates looking to design their own custom SOC using ARM technology, the use of Intel's chip is likely going to drop further. Intel can counter this by reducing price, which I am sure they are already doing so. AMD is giving Intel double headache since they offer better value for more superior products.PC sales had been down for the better part of a decade before covid, sales being down now relative to last year's bumper sales was inevitable. Losing a chunk of the enthusiast/higher-end to AMD doesn't help either.
Correction: The author has most likely missed nothing, as stated before."DCG operating margins weighed in at 23%, a record low for a segment that typically runs in the 40% range, ..."