Benzinga - On CNBC’s "Halftime Report Final Trades," Rob Sechan of New Edge Capital Group named Broadcom Inc. (NASDAQ: AVGO) as his final trade, saying several companies, including Google, rely on Broadcom’s chips.
Broadcom recently launched the artificial intelligence chip Jericho3-AI at a time when the use of AI is skyrocketing.
JP Morgan Private Bank’s Anastasia Amoroso picked VanEck Semiconductor ETF (NYSE: SMH), saying this week is a big one for semiconductor earnings. Despite being a risky trade, Amoroso added she is sticking with semis given big tech earnings last week.
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Jim Lebenthal of Cerity Partners said Visa Inc. (NYSE: V) reported very good earnings results. "I think there is more spending ahead," he added.
Visa reported second-quarter revenue of $7.99 billion, down 11% year-over-year. The revenue total beat a Street consensus estimate of $7.79 billion. “Visa’s strong fiscal second quarter performance reflects continued focus on our growth levers – consumer payments, new flows and value added services,” Visa CEO Ryan McInerny said.
Price Action: Visa shares were flat at $232.81, while VanEck Semiconductor ETF added 0.6% to $248.82 during early trading on Monday. Broadcom shares gained 0.4% to $629.81 at the time of publication on Monday.
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