Trading Nvidia, AMD and Intel as Congress Votes on Chips Act

Chip stocks like Nvidia  (NVDA) – Get NVIDIA Corporation Report, Advanced Micro Devices  (AMD) – Get Advanced Micro Devices Inc. Report, Intel  (INTC) – Get Intel Corporation Report and more are in focus on July 20.

That’s not only as these three stocks work on their sixth straight daily gain, but also as earnings start to roll in and as the Chips Act — formally the Creating Helpful Incentives for the Production of Semiconductors for America Act — is being voted on in Congress.

Despite the selloff, earnings remain somewhat resilient. Taiwan Semi  (TSM) – Get Taiwan Semiconductor Manufacturing Company Ltd. Report reported a top- and bottom-line beat last week and provided upbeat guidance.

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