Why Texas Instruments, Nvidia, and Advanced Micro Devices Were Rising Today
Shares of semiconductor all-stars Texas Instruments (NASDAQ: TXN), Nvidia (NASDAQ: NVDA), and Advanced Micro Devices (NASDAQ: AMD) were rising today, up 5%, 4.8%, and 3.1%, respectively, as of 12:55 p.m. ET.
Texas Instruments reported earnings last night, and handily beat analyst expectations. Although Texas Instruments mostly makes different kinds of chips than Nvidia or AMD, healthier-than-feared demand signals from TI were likely a positive for the whole sector.
Big tech earnings from Microsoft and Alphabet last night also came in better than feared, at least with regard to their cloud computing units. Thus, Nvidia and AMD, which have large data center businesses, were likely reacting positively to that as well.
Source Fool.com
