The 2011 figures for microprocessor revenue turned out to be positive, considering that the tragic earthquake and tsunami in Japan a year ago and floods in Thailand later in the year disrupted PC market supply chains. In addition, economic concerns caused by stubborn unemployment in the U.S. and sovereign debt woes in Europe put a damper on demand for hardware, analysts said.

IDC said processor unit shipments increased 3.6 percent in 2011 compared to 2010. This year, IDC is forecasting PC microprocessor unit shipment growth at 5.1 percent.

But IDC says that may end up hiking that estimate. "Since the end of 2011 and through the first quarter of 2012 so far, IDC observes that the hard disk drive shortage that caused PC OEMs to cut back on advanced purchases of PC microprocessors has improved," . "IDC now believes that the HDD shortage will not be a significant factor in PC shipments in 2Q12. Combined with improving job growth in the United States and stabilization of sovereign debt issues in Europe, IDC may raise this growth rate modestly after the close of 1Q12."

Although Intel remains dominant in the market, a rising tide is lifting several boats: Investment firm Jeffries on Thursday upgraded its recommendation on shares of Advanced Micro Devices, to "buy" from "hold."