Cowen & Co. analyst Matthew Ramsey wrote Wednesday that his May readings from component suppliers in Taiwan delivered a "positive read through" for Advanced Micro Devices Inc. and Intel Corp. as well as a "somewhat positive" read through for Marvell Technology Group Ltd. and Silicon Motion Technology Corp. "May processor component suppliers reported revenue increased 6% M/M (8% Y/Y), or 200bps above seasonal," Ramsey wrote. He predicts that these results could be due to better-than-expected PC shipments and increased average selling prices. Ramsey wrote that his look at the Apple Inc. supply chain also showed above-seasonal numbers, as well as 16% year-over-year growth. AMD shares are up 32% over the past 12 months, while Intel's stock has gained 52% and the S&P 500 has climbed 13%.