https://wccftech.com/semiconductor-heavyweights-intel-nasdaq-intc-and-amd-nasdaq-amd-to-reap-a-windfall-from-revival-in-pc-demand-according-to-bank-of-america/

Semiconductor Heavyweights Intel (NASDAQ:INTC) and AMD (NASDAQ:AMD) were expected to take a substantial financial hit at the onset of the coronavirus (COVID-19) pandemic due to a deterioration in the macroeconomic climate and the corresponding demand slump. However, it appears that demand in at least one sector, that of PCs, has recovered much more quickly.

The investment note published today by Bank of America analyst Vivek Arya bodes well for the two leading semiconductors. Arya contends that Intel’s shipment of PC CPUs grew by 7 percent in the first half of 2020, exceeding actual PC production by 500 basis points (5 percent) during the pertinent timeframe. This pace of channel replenishment indicates strong tailwinds for Q3, according to the Bank of America analyst. While noting that the consensus expectations for Intel’s metrics related to the second half of the year were “too conservative”, Arya conceded that Apple's transition to in-house silicon is a "modest headwind" for the semiconductor giant.