AMD Advances 5%, Intel Rises 4%, Marvell Gains 2% as Chip Stocks Bounce Ahead of AMD Earnings
Investors are betting AMD’s AI demand and guidance can offset a 19% monthly drop and steady a sector hit by Intel’s weak outlook.
- Advanced Micro Devices stock rose 4% to $487 on Tuesday ahead of its third-quarter earnings report scheduled for release after the close on November 3.
- Intel's weak fourth-quarter revenue guidance of $15 billion to $16 billion fell short of the $17 billion analyst consensus, triggering a sector-wide slide on October 29 that contributed to AMD's 23% decline this month.
- Analysts project AMD Data Center revenue will rise 88% to $8.19 billion, though traders remain split on whether strong guidance can reverse the recent selloff.
- NVIDIA is also rebounding sector-wide, while Marvell Technology's all-stock bid for Lumentum Holdings triggered a Bank of America downgrade and price-target cut from $400 to $225.
- Supported by gigawatt-scale AI commitments from Anthropic, OpenAI, and Meta Platforms, management expects data center segment revenue to more than double year-over-year in 2027.
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AMD needs a big quarter to escape Intel's fate as AI fears grow
AMD reports third-quarter results on Tuesday after its shares fell about 17% in two days alongside Intel. Analysts expect revenue to rise 41%, but investors say AMD needs a big beat and a strong outlook as AI spending fears grow. AMD needs a strong quarter and a bold forecast when it reports results after the […] This story continues at The Next Web
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