A "high-level view is in order" of chipmaker Advanced Micro Device's (AMD - Get Report) fight against Intel (INTC - Get Report) for server chips, Rosenblatt Securities Hans Mosesmann wrote on Friday.

He reiterated his "Buy" rating on AMD's stock with a price target of $20 per share.

Mosesmann called out his colleagues on the street for failing to give AMD credit for what it had accomplished when it unveiled its "Epyc" server microchip.

"Firstly, the amusing consensus view the day after the EPYC launch on the 20th is that it is a solid product (enough to gain some incremental share), and that only time can tell how it all plays out as Intel (INTC: Sell) responds," he noted.

The chip will be very additive to value, Mosesmann added.

As for Intel, he argues that its server-chip strategy has "been caught by surprise," while it dealt with a dispute with Nvidia (NVDA - Get Report) , its "existential enemy."

Mosesmann believes Intel will have to cut prices, saying "there is not competitive response we see from Intel that won't destroy its historical pricing model."

AMD's shares fell 0.2% to $14.35 on Friday afternoon, while Intel's fell 0.4% to $34.21.

What's Hot On TheStreet:

Well OK then, Jeff Immelt: General Electric's (GE - Get Report) outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's (KR - Get Report) CEO might have made about Amazon (AMZN - Get Report) who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.

Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.

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