Earnings seasons is here. Intel Corp. (NASDAQ: INTC) and Advanced Micro Devices, Inc. (NASDAQ: AMD) are both set to report earnings this week. 24/7 wants to know after, Intel’s warnings, if AMD can outshine Intel as has it done so far in 2015. With semiconductors being a leading indicator for consumer electronics trends, many investors and analysts will be paying close attention to what these chip and processor rivals have to say.

Intel is scheduled to report its first-quarter results on Tuesday after the markets close. Thomson Reuters has consensus estimates of $0.41 in earnings per share (EPS) and $12.90 billion in revenue. The first quarter of the previous year had $0.38 in EPS and $12.76 billion in revenue.

AMD is set to release its first quarter results Thursday. The consensus estimates for the first quarter are -$0.05 in EPS and $1.05 billion in revenue. The same period in the previous year had $0.02 in EPS and $1.40 billion in revenue.

Intel does a whopping 83% of sales to foreign customers and has been hurt by the strong dollar. Weaker PC sales hurt the company as well. Hence, the company’s recent earnings warning. Like many firms, Merrill Lynch analysts are seeing value in the stock after a pretty hard share pricing beat-down. They also see the other areas starting to contribute a meaningful impact to revenues and helping to move the legendary Silicon Valley chip giant away from its crushing PC dependence.

AMD had a poor year in 2014. The stock is down close to 30% over the trailing 12-months from now. Even though it is the one of the few chip stocks in 24/7 Wall St.’s coverage universe to post a gain so far in 2015, the 1.1% increase is not exactly heart-stopping. Just a week after pumping up Intel and Broadcom, UBS analysts downgraded AMD from Neutral to Sell and set a price target of $2.40 on the shares.

AMD and Intel were going at relatively the same pace until last July. Comparatively AMD shares are down about 31% over the past year and Intel shares are up 22%. However, year-to-date AMD shares are up about 3% and Intel shares are down 11%.

Another key difference here is that Intel has been one of the greatest stock buyback companies of all-time, but AMD has not. Also, here is how short sellers are viewing the top chip stocks — including these two players.

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Shares of AMD closed Monday up 0.4% at $2.77 on a 52-week trading range of $2.14 to $4.80. The stock has a consensus analyst price target of $3.11.

Intel shares closed Monday down 0.6% at $31.73. The stock has a consensus analyst price target of $34.61 and a 52-week trading range of $25.74 to $37.90.

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