We’re adding to another semiconductor stock as the tech sector takes a hit

Read Time:2 Minute, 40 Second


Lisa Su, President and CEO of Advanced Micro Devices Inc. (AMD), speaks at a launch event on Wednesday, August 7, 2019, in San Francisco, California, U.S.

David Paul Morris | Bloomberg | Getty Images

(This article was first sent to members of the CNBC Investment Club with Jim Cramer. To get real-time updates in your inbox, subscribe here.)

After you receive this email, we will buy 50 shares Advanced Micro Devices (AMD) About $130.62. After the transaction, the charitable trust will own 750 shares of AMD. The acquisition will increase AMD’s weight in the portfolio from about 2.15% to about 2.3%.

On Monday, we’ll be buying a beaten semiconductor stock for the second time to make sure we’ve put some money in to work at these lower prices. The broader market action was pretty rough a few hours ago, but since then there has been some rebound that looks encouraging.

take Adobe (ADBE) For example. Adobe led tech stocks lower last month after reporting a disappointing quarter, but if today should be so bad for tech stocks, with 10-year yields rising again, why is ADBE flipping from negative to positive? The takeaway from this action is that many tech stocks are oversold and about to rebound.

So why buy AMD?like Marvell Technologies (MRVL) From earlier on, we trimmed our AMD position to higher levels that we believe are priced right to repurchase these shares. To provide some numbers for our trade, the last time we adjusted AMD was on December 1st, when the stock was trading around $160. Today, AMD stock is trading around $130, down about 18% from our sale price.

From December to today, the only real news is the delay Xilinx (XLNX) get. The postponement of the XLNX deadline may have created some unnecessary uncertainty for AMD shareholders, but we still believe the deal will succeed and we have full confidence in CEO Dr. Lisa Su. The Xilinx deal should be a catalyst for AMD, as it will give AMD more exposure in the data center industry and diversify its product portfolio compared to rival Intel.

In a market where it’s difficult to get a foothold at the start of 2022, we like the idea of ​​buying high-quality growth names with catalysts at deep discounts from our last sale.

The CNBC Investment Club is now the official home of my charitable trust. Here you can see everything we do for our portfolio and get my market insights before anyone else. The Charitable Trust and my writings are no longer affiliated with Action Alerts Plus in any way.

As a subscriber to CNBC Investing Club with Jim Cramer, you will receive trade alerts before Jim trades. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable trust portfolio. If Jim had talked about a stock on CNBC TV, he would have waited 72 hours after issuing a trade alert before executing the trade. See here for investment disclaimer.

(Jim Cramer’s charitable trust has long held AMD, MRVL.)


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