Intel Xeon E3 1240 's Advantages
Higher base frequency (3.3GHz vs 2.8GHz)
Lower TDP (80W vs 230W)
Intel Xeon Gold 6342 's Advantages
Released 10 years late
Higher specification of memory (DDR4-3200 vs DDR3)
Newer PCIe version (4 vs 3)
Larger L3 cache size (36MB vs 8MB)
More modern manufacturing process (10nm vs 32nm)