Market experts said NVIDIA Corp. (NASDAQ:NVDA) remains a core AI semiconductor holding, while peers such as Broadcom Inc. (NASDAQ:AVGO), Advanced Micro Devices Inc. (NASDAQ:AMD), Micron Technology Inc. (NASDAQ:MU) and Sandisk Corp. (NASDAQ:SNDK) continue to trade around hyperscaler spending, memory demand and AI infrastructure momentum.
NVIDIA Draws Fresh Buying
Virtus Investment Partners’ Joe Terranova told CNBC’s “Halftime Report” that he added to NVIDIA after the stock showed signs of a technical momentum breakout. He said NVIDIA’s fundamentals remain well known, but his latest purchases focused on the stock’s chart setup.
Terranova said NVIDIA has traced a pattern similar to Apple Inc. (NASDAQ:AAPL), which consolidated before breaking higher. He said NVIDIA could move back toward $240 if the breakout continues.
Stephanie Link, CIO at Hightower, also said during CNBC’s “Halftime Report” that she added NVIDIA. She cited the company’s GPU dominance, new product cycle, strong revenue growth, high margins and attractive valuation after the stock lagged the broader semiconductor group.
Broadcom And AMD Stay In Focus
Terranova said Broadcom remains an important AI derivative trade because of its relationship with Alphabet Inc. (NASDAQ:GOOGL) around tensor processing units. He said positive updates tied to Alphabet’s internal TPU efforts could restart momentum in Broadcom after its recent pullback.
Josh Brown, co-founder and CEO of Ritholtz Wealth Management, during CNBC’s “Halftime Report” pointed to a broader rebound across AI infrastructure stocks, including AMD, SanDisk, Western Digital Corp. (NASDAQ:WDC), Micron, Intel Corp. (NASDAQ:INTC) and Corning Inc. (NYSE:GLW). He said the market’s reaction suggests investors viewed the recent AI selloff as technical rather than fundamental.
Hyperscalers Drive The Chip Trade
Terranova said that the AI trade still depends on hyperscaler spending and proof that those investments are generating returns. He said Alphabet has shown clearer evidence through accelerating cloud growth, while Meta Platforms Inc. (NASDAQ:META) has a strong business model but less visible proof of AI return on investment.
Brown said Alphabet’s earnings are important because they give investors a clean read on hyperscaler capital spending and whether AI infrastructure projects remain on track. He said investors who believe in the theme likely want exposure before those updates.
Memory And Capex Support Sentiment
Link said she added Micron after the stock pulled back from its highs while fundamentals stayed strong. She said memory and compute remain in short supply, giving Micron pricing power and stronger earnings visibility.
Jason Snipe, founder and chief investment officer of Odyssey Capital Advisors, during CNBC’s “Halftime Report” said the semiconductor pullback looked like a positioning reset rather than a fundamental break.
He said hyperscaler capital spending is unlikely to slow and expects Alphabet and other large cloud buyers to reaffirm, or potentially raise, spending plans.
NVDA Price Action: NVIDIA shares were down 1.09% at $209.74 at the time of publication on Thursday, according to Benzinga Pro data.
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