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It's been a pretty rough ride for stocks ahead of the final trading session of the month, quarter, and first half of the year. All three major indexes are up double digits, as we said, since the beginning of the year, led by the S&P at 14. Second best first half for the S&P, Jim , since '98. And I don't think this is the end.
We are now in the strongest seasonal period. If you buy today and hold for 8 to 12 days, you will almost always have a winning deal. I'm talking about a 75-80% sale. Thanks to Larry Williams for this. So, it's not worth saying that just because we had a great first half of the year, it's time to record profits.
Everything is ready and ripe for the next rally. So, aren't you bothered by the fact that there are fewer stocks above the 50- day moving average and a stronger reliance on FANG in the indices? It 's interesting that you mentioned that, because Larry was discussing it with me. He considers Microsoft the most overheated and dangerous stock.
It grows with very low trading volume. Some of the FANG, otherwise . Look, my lead group—it's not FANG, it's semiconductors, and semiconductors are a beauty to behold. Micron reports tonight, and there are rumors that Micron will simply shatter expectations. Micron was very...it was only up 10% versus 20% in the S&P, but I think AMD is a very tricky stock.
Look at her, quietly step by step, inch by inch. AMD goes to 90. BofA today raises its price target to 120 for AMD due to data centers. But there's so much news, Jim. There is a breakthrough in semiconductors as a whole yesterday. There is Micron tonight. [ __ ] raises to 110. How do you like that? It was very aggressive.
And don't forget about AMD. What we're really waiting for is the closing of the deal with Xilinx, which I understand is imminent. And then we will no longer have to hear Intel's Gelsinger criticize AMD so subtly, because AMD will have a completely different business mosaic. This is the second time in the last 30 seconds that you've mentioned AMD.
Well, because the stock went up 10 points and no one even mentioned it. Mhm. And you think it will go even higher. Is that what you mean? Lisa Su has a roadmap. Not only because her next processor is Milan. It has many Italian cities in its names. Yes, this is the roadmap. It was named after the cities of Taiwan.
I understand. I was waiting for Florence. Really? Yes. And will this be the next chip or something? I hope so. Yes. This is my bet. You know, no one knows which city she will choose next. Got it. Rome wasn't built in a day, but this action could go to 110. The action could go to 110 . This is plus 30 points from the current level.
Really? Even Taiwan Semi drops to neutral. This is terrible for TSM 105. I don't know who wouldn't love Taiwan Semi, except for those who are afraid that the Chinese communists —by the way, they are communists, David. Yes, you pressed the button, they are going to take over Taiwan, which I think is worrying a certain percentage of people.
I always ask CEOs when I meet with them, which is almost every night: " What are you afraid of?" And their fear is always Taiwan. Not the Delta option, but Taiwan. Everyone is worried that one day we will wake up and it will be Hong Kong. I wish people would worry less, but I hear it all the time and I don't push them.
I ask, "What is your main concern ?" Taiwanese foundries. Time magazine ran a big story about foundries. Obviously, we are all hostages. Looking back at the beginning of the quarter, or at least the first half of the year, you were confident about Caterpillar, Boeing, and cruise companies. I assume that now you are waiting to see what happens next.
I have to... look, personally I'm not afraid of the Delta option because I have Moderna. I think the more we hear from people that we might be in trouble, even though we didn't think so, people are again saying, "Okay, listen, we need to back off." Why be the last soldier to die in this war, David? I do n't know.
I mean, you're wearing it again... look at them, Nvidia. Look at Nvidia. Growth of 52%. Yes. Did you know that Nvidia, the second, got its own? I was just shown my name tag. Never stops. I just got a token for Nvidia. One of the largest markets. You did number two. Also known as Raghu. She called. He responds to Nvidia.
OK. If only you had a treat in your hands. Yes. Shepard Smith was with you . Thank you for watching CNBC on YouTube.
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