Advanced Micro Devices' (AMD) EPYC server processors may offer better performance for their price than Intel's (INTC) processors, Wells Fargo (WFC) Analyst David Wong said in reiterating his "outperform" rating for AMD.

AMD shares closed down almost 5% Thursday but are climbing in after hours trading. 

Wong said AMD's multi-chip module in the Epyc processor will likely beat out all other attempts that have so far failed to find a multi-chip approach that works.

The Epyc model packages four chips together on AMD's Infinity fabric, accomplishing a feat the industry has long struggled with. Intel lost market share to AMD in 2005 when the company attempted to package two Paxville chips together but still lost out to AMD's single chip Opteron.

AMD's Infinity fabric facilitates a high-performance multi-chip solution, Wong said. The data is underdeveloped, but initial third party results suggest Epyc could break the multi-chip curse.

What's Hot On TheStreet

Happy birthday iPhone: Apple's (AAPL) iPhone turns 10 years old today! What an amazing product Steve Jobs and his team created. But, as TheStreet's Natalie Walters points out, the next five years for Apple could be radically different. Sales could well be boosted by new, non-iPhone products such as smart glasses and autonomous car technologies. Walters also mentions that iPhone demand may peak in 2019.

Blue Apron falters: Blue Apron (APRN) plans an initial public offering on Thursday seeking a valuation of about $2 billion. That's down significantly from a $3.2 billion valuation it had previously hoped to achieve. In the public sphere, the New York-based meal kit delivery service's IPO comes at an unsettling time, points out TheStreet's Ron Orol, as the markets begin to digest Amazon Inc.'s (AMZN) mega $13.4 billion acquisition of Whole Foods Market Inc. (WFM) . Moreover, investors have questioned Blue Apron's business model -- it hasn't turned a profit since 2012 due to rising marketing and distribution costs.

Regulators outsmarted: With questions swirling whether its combination would get approved by regulators, Walgreens Boots Alliance (WBA) and Rite-Aid (RAD) struck a clever deal on Thursday. Walgreens will pay $5.175 billion to Rite-Aid in cash and receive 2,186 stores in return. Walgreens will also pay Rite-Aid a $325 million termination fee for its planned buyout of the company.

Walgreens will be an even bigger drug-selling beast, with more than 15,000 stores spanning 11 countries. As for Rite-Aid, it will be left with about 2,300 stores once the deal closes in six months.

Apple, Wells Fargo and Walgreens Boots Alliance are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL and WBA? Learn more now.

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