Shares of Advanced Micro Devices (AMD - Get Report) opened higher Monday, but quickly stumbled on the day, ending lower by 0.86%. Tuesday morning is starting off on a far worse note, though. 

Analysts at Barclays downgraded shares of AMD to underweight and assigned a $9 price target. With a stock price near $14, it implies downside of roughly 35%. Shares were down about 3% in early trading because of the downgrade.

Blayne Curtis is the analyst behind the call, arguing that investors are currently pricing in a high level of success for AMD. They're doing this despite there being little evidence that Advanced Micro Devices is taking significant market share.

But it's not all doom and gloom on Tuesday, as video game companies Electronic Arts (EA - Get Report) and Activision Blizzard (ATVI - Get Report) each received positive ratings from Needham.

Both stocks were initiated with buy ratings, while Electronic Arts received a $130 price target. Given its current price near $109.50, the price target implies almost 20% upside. Activision Blizzard is seen with a bit more upside, as its $75 price target implies about 25% upside from current levels.

If those price targets come to fruition, it will continue to pad the enormous gains already seen in the industry. EA is up about 39% this year, while Activision is already up more than 67% in 2017. It's not to say these gains have gone unnoticed, but they certainly have not received the sort of attention that other high-performing tech stocks have.

If Bank of America/Merrill Lynch's Vivek Arya is right about Nvidia Corporation (NVDA - Get Report) , it will also mean good things for video game companies. He argued that the video game business is typically stronger in the second half of the year, which should pave the way to more gains in Nvidia stock. But if that's the case, it's just another catalyst for EA and Activision Blizzard.

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This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.