At AMD's first analyst day since 2010, Rory Read said the company would leverage its PC chip technology to attack the fast-growing tablet segment as well as emerging markets but stay away from the smartphone market.

"We're going to double down on client and mobility ... I'm not suggesting we dive into smartphones, a heavily crowded space with low margins ... I'm going to focus on client mobility, thin and light," Read said.

Much of AMD's focus recently has been on selling chips for laptops.

Read took a shot at larger rival Intel's historic dominance of the PC chip market and said the rise of tablets and other mobile gadgets, where Intel so far has been weak, open new opportunities for companies including AMD to innovate.

"You'll see a breakdown of proprietary control points, those control points that have dominated our industry for years and years," Read said. "The status quo will break down."