Advanced Micro Devices Inc. (NASDAQ: AMD) will report its fourth-quarter results Tuesday after the market close. Thomson Reuters has consensus estimates of $0.01 in earnings per share (EPS) and $1.24 billion in revenue. In the fourth quarter of the previous year, AMD posted $0.06 in EPS and revenue of $1.59 billion.

Wells Fargo recently weighed in on the semiconductor industry and its outlook for 2015. Overall the firm is strong on the fundamentals for the new year, and Advanced Micro Devices is one of the frontrunners. The top large cap stock is Intel Corp. (NASDAQ: INTC), while AMD takes a top spot among the small caps, both with Outperform ratings.

Chip growth is expected to accelerate though 2015, with grow in the range of 8% to 12% for the full year. This is potentially two to three times the 2015 3% to 5% growth projections of various market research organizations, such as WSTS and Gartner, and comparable to the 9% to 10% growth of 2014.

Intel has always been a big competitor with AMD, and the two appear to be trading blows in recent years. Intel lost out to Advanced Micro Devices in 2013 over the graphics and processor designs for the Xbox One and the PlayStation 4, although it smoked AMD in the PC market. It is worth noting that while the market cap for Intel is $176 billion, AMD has a market cap of nearly $2 billion.

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In the period ended December 31, AMD saw its short interest fall over 11% to 129.2 million shares, with 12 days to cover. The previous level was as high as 146.4 million.

The stock’s 50-day moving average currently reads at $2.65. It acted as resistance in early December and was tested from mid-December until recently, when shares fell off. The 200-day moving average is $3.65.

Shares of Advanced Micro Devices were up roughly 1% at $2.42 following Tuesday’s opening bell. The company’s stock has a consensus analyst price target of $3.11 and a 52-week trading range of $2.35 to $4.80.

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