Taiwan Semiconductor, Applied Materials And More On CNBC's 'Final Trades'

Author: Avi Kapoor | May 13, 2024 08:20am

On CNBC's “Halftime Report Final Trades,” Stephen Weiss of Short Hills Capital Partners picked Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), which released quarterly results on April 10.

TSMC experienced a 60% surge in April sales to 236 billion New Taiwan dollars ($7.3 billion), driven by ongoing demand for artificial intelligence and signs of recovery in consumer electronics.

Shannon Saccocia of NB Private Wealth named iShares U.S. Utilities ETF (NYSE:IDU) as her final trade.

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Jim Lebenthal of Cerity Partners picked Applied Materials, Inc. (NASDAQ:AMAT).

Applied Materials is scheduled to hold a webcast to discuss its second quarter of fiscal 2024 financial results on Thursday, May 16 at 4:30 p.m. ET. Analysts expect the company to report quarterly earnings at $1.99 per share, up from $1.78 per share in the year-ago period. Applied Materials is projected to post revenue of $6.54 billion for the quarter.

Bill Baruch named VanEck Gold Miners ETF (NYSE:GDX), saying it could be the “time to shine.”

Price Action:

• Taiwan Semiconductor shares rose 4.5% to close at $149.26 on Friday.
• iShares U.S. Utilities ETF slipped 0.1% during Friday's session.
• Applied Materials shares rose 1.7% to settle at $209.73 on Friday.
• VanEck Gold Miners ETF declined 0.3% during Friday's session.

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Posted In: AMAT GDX IDU TSM