Merrill Lynch analyst Vivek Arya said on July 27 that Advanced Micro Devices ( AMD ) is the biggest beneficiary of Intel's ( INTC ) 7-nanometer product delay. During its second-quarter earnings release on July 23, the chipmaker announced that the launch of its new processor chips would be postponed by a year. The five-star analyst reiterated his Buy rating on the stock and raised the price target to $77 (11.6% upside potential) from $65, saying that "he has higher confidence in AMD's medium/longer-term prospects."