I guess if you want to get technical, it often does.
On the other hand, some components are specifically guaranteed under adverse conditions. An example would be OCZ's EVP on some of their memory, where they'll honour their lifetime warranty for using voltages beyond what the sticks are specced for (to a certain limit, of course). Or motherboard makers that rate their boards for memory speeds beyond the JEDEC specs (i.e. there is no official spec for DDR3-1800 or 2000).
If you're concerned about that sort of thing, you really have to look at things piece-by-piece. To start, I don't believe ANY CPU's are warrantied for overclocking, even the ones with unlocked multipliers. Kind of two-faced, but that's just how things works.
__________________ i7 2600K | ASUS Maximus IV GENE-Z | GTX Titan | Corsair DDR3-2133 |