Why Are Chips Breaking Out?
While some economists are calling for a recession, chips stocks led by Intel (INTC) surged on Wednesday. What’s it all mean?
Intel isn’t just a chip company, They also make money on networking, so I’m not sure this was a chip run, says Pete Najarian. He adds, NVIDIA (NVDA) is the trade because the demand for their graphic chips remains strong.
Both Guy Adami and Jeff Macke like Intel (INTC). INTC could have a 30-handle says Adami.
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Trader disclosure: On Dec. 5, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO), (ATVI); Pete Najarian Owns (BSC) Options, (COP) Options, (GOOG) Options, (XMSR) Options, (YHOO) Options, (TSL) Options (EMC) Options, (BIDU) Options, Finerman's Firm And Finerman Own (GS); Finerman's Firm Owns (BEAS), (BWS), (CROX), (TSO), (YHOO), (NMX), (NYX), (PLCE); Finerman's Firm Is Short (SPY), (IJR), (IYR), (IWM), (MBI); Finerman's Firm Is Short (MDY) And Owns (MDY) Puts; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (MSFT) Options; GE Is The Parent Company Of CNBC