On CNBC's “Halftime Report Final Trades,” Odyssey Capital Advisors’ Chief Investment Officer Jason Snipe said he likes Advanced Micro Devices, Inc. (NASDAQ:AMD). NVIDIA Corporation (NASDAQ:NVDA), he says, is not the only game in town.
The semiconductor giant, on Tuesday, announced a strategic alliance with HCLTech, a leading global technology company. The collaboration is set to accelerate enterprise digital transformation by leveraging AMD's high-performance computing and AI capabilities.
Melius Research analyst Ben Reitzes also upgraded AMD from Hold to Buy. He also raised the price target from $110 to $175.
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Stephen Weiss, managing partner of Short Hills Capital Partners, picked Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), saying the “future is extremely bright.”
As per the recent news, TSMC Global Ltd. is preparing to raise $10 billion by issuing new shares to manage currency volatility and maintain capital flexibility.
Kari Firestone, co-founder of Aureus Asset Management, said American Express Company (NYSE:AXP) is breaking out above its 100-day moving average, with strength in consumer spending and travel.
On the earnings front, American Express will host a live audio webcast of its earnings conference call on Friday, July 18, to discuss the company’s second-quarter financial results. Analysts expect the company to report quarterly earnings at $3.86 per share, down from $4.15 per share in the year-ago period. The company projects to report quarterly revenue of $17.7 billion, compared to $16.33 billion a year earlier.
Price Action:
- Taiwan Semiconductor Manufacturing shares gained 1.2% to close at $222.74 on Wednesday.
- American Express rose 0.1% to settle at $308.59 during the session.
- AMD shares gained 3.6% to close at $143.40 on Wednesday.
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