Shares of several companies in the broader tech and semiconductor sectors, including Advanced Micro Devices, Inc. (NASDAQ:AMD), NVIDIA Corporation (NASDAQ:NVDA) and Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM), are all trading higher amid overall market strength after Russia announced it would pull back some troops positioned on the Ukrainian border. Intel's acquisition of Tower Semiconductor has also helped lift the semiconductor and chip space during Tuesday's session.
Traders and investors will also be watching for Nvidia's fourth-quarter earnings results, which will be announced during tomorrow's after-hours session. According to analyst consensus estimates, Nvidia is expected to report $7.42 billion in revenue and EPS of $1.22 during tomorrow's report.
AMD is trading higher by 6.2% at $121.38 Tuesday afternoon.
Nvidia is trading higher by 9.1% at $264.81.
Taiwan Semiconductor Manufacturing is trading higher by 3.9% at $124.44.
