Check this post which very clearly demonstrates that our problem is lack of mipmapping. This did not get much attention but this is PERFECT.
You can Google mipmap on /off and with mipmap off you will see the exact shimmering that I'm having in all of my games. Now what hardware component is related to this, I do not know but if somebody has any idea about this, please help us.
I read through Wikipedia article about mipmapping and it says that lack of mipmapping causes aliasing and moiré pattern.
Moiré patterns which are caused by a lack of mipmapping manifest as texture shimmering.
Search for mipmap on/off on YouTube. In Minecraft lack of mipmapping shows moiré patterns that we are referring to as shimmering.
Here's a video where the guy explains how disabling mipmaps causes shimmering/flickering.
I made a playlist that shows this shimmering problem in various games that is very similar to this guy's tutorial.
https://www.youtube.com/playlist?list=PL1kOX4nbpfUw0v6ThZDI64QGRFL-CyCMX
Please watch all these videos in fullscreen and 1080p/highest resolution available.