AMD climbs ahead of Q2 results; chip stocks mixed as Taiwan tensions rise
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Advanced Micro Devices (NASDAQ:AMD) rose almost 4% Tuesday ahead of the company's second-quarter results, though the broader semiconductor industry was largely mixed amid concerns that House Speaker Nancy Pelosi's trip to Taiwan could inflame tensions between the U.S. and China.
AMD (AMD) gained ground as investors awaite the latest results from the Dr. Lisa Su-led chipmaker. On Monday, investment firm Lynx Equity Strategies said Intel's (NASDAQ:INTC) recent disappointing results were positive for AMD (AMD), and cited the potential for a "more sustainable" lead over Intel in data centers "than imagined a quarter ago.â
A consensus of analysts expects AMD (AMD) to earn $1.04 a share on $6.53B in revenue for its second quarter.
As trading progressed, AMD (AMD) competitor Nvidia (NASDAQ:NVDA) saw fractional gains, while Intel (INTC) fell 1.5%.
Taiwan Semiconductor (NYSE:TSM) is in the crosshairs of Pelosi's visit, as the Taiwan-based semiconductor foundry builds roughly half of the world's chips for a variety of customers, including AMD (AMD), Apple (AAPL) and Nvidia (NVDA). 
Taiwan Semi (TSM) clawed back from its earlier losses to rise 1% to $87.25 a share. 
Other semiconductor stocks saw small losses or gains on Tuesday, including Qualcomm (QCOM), Texas Instruments (TXN), Broadcom (AVGO), ON Semiconductor (ON) and Micron Technology (MU).
Shortly after Pelosi landed in Taiwan, the Speaker made comments aimed at reassuring China that the visit did nothing to contradict the United States' longstanding "One China" policy. 
Pelosi added that the visit was in concert with honoring Taiwan's commitment to democracy and talks would reaffirm the U.S.'s support.
Seeking Alpha reported that the White House has sought to distance itself from the visit, saying it cannot control another branch of government.
Prior to Pelosi's landing in Taiwan, news outlets reported that several Chinese fighter jets flew close to the Taiwan Strait early on Tuesday, while the U.S. Navy had deployed four warships, including an aircraft carrier, east of Taiwan.
Last month, Wedbush Securities analyst Matt Bryson said AMD (AMD) was his top pick in the semiconductor space.