AMD CPUs and APUs have lower IPC capabilities than Intel CPUs. IPC is Instructions Per Cycle (or Clock). For every Hz Intel CPUs can process more instructions than AMD's APUs and CPUs. In a nutshell Intel CPU have architectures that are more efficient than what AMD has to offer. As an analogy it's like Person A can type 60 words per minute while Person B can type 70 WPM. Assuming no typing errors, guess who is going to finish typing a 5000 word document first.
Obviously both Intel and AMD offers multi-core CPUs. Intel offers up to 4 cores for the average person and up to 6 cores for enthusiasts who are willing to spend up to around $1,100 for a very powerful Sandy Bridge-E (socket 2011) CPU. AMD sells inexpensive multi-core CPUs for the "common person". The FX series has up to 8 cores which brings up the phrase "MOAR is better". But Intel has a trick up it's sleeve which has been around for quite a while. It's called Hyper Threading which basically creates 4 virtual cores; there are 6 virtual cores for the Sandy Bridge-E.
AMD's FX CPUs do have up to 8 physical cores unlike Intel's 4 physical cores + 4 virtual (or "fake") cores. However, while AMD's FX (Bulldoser and PileDriver) have more physical cores, every two core are paired up in a module. That module only has 1 FPU (floating point unit) that is shared by both cores. I one core is using the FPU, the other must wait. So while there are up 8 cores, the fact that they share an important resource diminishes the potential performance. The thought of having 8 cores is great, but only if they can be utilized. From a gaming perspective, the vast majority of games only use up to 2 cores. There are some that can make use of 3 or maybe 4 cores but they are few number. BF3 is an example of a game which I believe can use up to 6 cores (how effectively the game is using them is a different point), but only in multiplayer mode. In single player mode BF3 only use 2 cores. I believe ARMA 2 can use up to 6 or perhaps all 8 cores (I don't really know); but how effective the game is using them is a different story. Meaning is AMRA 2 only using 20% of the 5th core and 5% of the 6th core? I dunno.
In very basic layman's terms, Intel's Hyper Threading (HT) capable CPUs can process 8 threads of instructions much like an 8 core CPU, but half the threads must wait for the other threads for CPU and FPU resources. Imagine an 8 lane highway converging into a 4 lane highway. For a program to take advantage of HT, it must be designed to do so. The performance increase depends on how well HT has been implemented. It can be as low as a 10% increase in performance to as high as 50%. But games are not designed to use HT so buying a CPU like the Core i7-3770k for a pure gaming rig is more or less a waste of around $100 (the price difference between it and the i5-3570k), or something like that. I don't track prices.
So what hypothetically speaking, which design is better? 8 physical cores sharing 4 physical FPUs? Or 4 physical cores + 4 virtual (logical, "fake") cores sharing the resources of 4 physical cores? Obviously, 8 physical cores is potentially better than 4 physical and 4 virtual. However, what counts is how the various threads are prioritized to effectively provide the best theoretical performance. In some cases AMD's 8 cores wins, in other cases Intel's 4 cores + HT wins.
Sooo..... having said all that which CPU is generally better for games? Click the link below for some gaming benchmarks. It compares AMD's Piledriver FX-8150 8 core CPU @ 3.6GHz vs. Intel's Sandy Bridge Core i3-2100 dual core CPU @ 3.1GHz. It is a pretty lopsided comparison. Note I didn't choose the PileDriver FX-8350 and the Ivy Bridge Core i3-3220 CPUs because there were no game benchmarks. Scroll down towards the bottom.
http://www.anandtech.com/bench/Product/434?vs=677
As you can see, the Core i3-2100 performs better than the FX-8150. This go back to what I stated at the very beginning... IPC... Instructions Per Clock (or Cycle). Even though the Core i3 is clocked slower than the FX, the benchmarks indicates that the Core i3 performs better. That means for every 1Hz, the i3 can process more instructions compared to the FX.
The benchmarks also indicates (at least for those games), that having more core does not improvement performance. The 6 other cores are just there hanging out. It's like a group of 8 guys trying to get into a dance club to meet girls... the bouncer only lets two of them into the club and other 6 are just hanging out in the parking lot.