Advanced Micro Devices, Inc. (NYSE:AMD) and International Business Machines Corp. (NYSE:IBM) are set to report their fourth quarter results after the bell on Tuesday, January 21. Advanced Micro Devices, Inc. (NYSE:AMD) is facing stiff competition from Intel Corporation (NASDAQ:INTC) and Nvidia Corporation (NASDAQ:NVDA). So, it will be interesting to watch how the company performs, and how successful its turnaround plan has been so far.

Advanced Micro Devices, IBM

Advanced Micro Devices, Inc. (NYSE:AMD)

The Sunnyvale, California-based chipmaker has seen its stock soaring about 70% since last year amid expectations that the company’s turnaround plan would be successful. Analysts expect Advanced Micro Devices, Inc. (NYSE:AMD) to post 6 cents in earnings, compared to a net loss of 14 cents in the same period last year. The company’s revenue is expected to rise 33% YoY to $1.54 billion. Analysts have grown a little more optimistic about the semiconductor company, raising their full year 2014 EPS projection by one cent. Advanced Micro Devices, Inc. (NYSE:AMD) has a market capitalization of $3.03 billion.

International Business Machines Corp. (NYSE:IBM)

The “big blue” posted a decline in its revenue during the third quarter due to weak demand in emerging markets and currency headwinds. Its revenues fell 4% to $23.7%, but earnings jumped 6% to $4 billion. For the fourth quarter, International Business Machines Corp. (NYSE:IBM)’s Q4 earnings are expected to soar to $5.99 a share, compared to $5.39 in the same period last year. Analysts’ expectations range between $5.73 and $6.09. Analysts’ estimates on the revenue front range between $27.02 billion and $29.05 billion, giving an average of $28.25 billion.

Over the past few quarters, International Business Machines Corp. (NYSE:IBM) has missed the consensus revenue estimates, pulling the stock down. Zacks Investment Research estimates its gross margins to reach 53.1% in Q4. International Business Machines Corp. (NYSE:IBM) said in October last year that its operating EPS would surpass $20 per share by 2015. That solid long-term view indicates that the company is likely to have a strong 2014. Currently, analysts estimate its 2014 operating EPS at $17.97. International Business Machines Corp. (NYSE:IBM) stock has declined 2.25% over the past 12 months.