AMD, Taiwan Semiconductor And A Financial Stock On CNBC's 'Final Trades'

On CNBC's “Halftime Report Final Trades,” Odyssey Capital Advisors’ Chief Investment Officer Jason Snipe said he likes Advanced Micro Devices, Inc. AMD. NVIDIA Corporation 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 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 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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