Micron, Nvidia, and AMD lead chip stocks rebound

Ines FerréTue, November 3, 2026 at 2:05 PM UTC

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Semiconductor stocks rebounded in premarket trading Tuesday, with the PHLX Semiconductor Index (^SOX) moving higher as major chipmakers were on pace to recover from steep losses.

Shares of memory chipmaker Micron Technology (MU) jumped 4%, reversing some of Monday's 7% decline. Peer SK Hynix (SKHY), along with memory and storage names Sandisk (SNDK), Seagate (STX), and Western Digital (WDC) were also poised to open higher.

AI chipmakers Nvidia (NVDA) and AMD (AMD) also rallied 2% and 4%, respectively. AMD shares erased some of their 7% losses from the prior session, ahead of the company's quarterly results due after the closing bell Tuesday.

Elsewhere, Broadcom (AVGO) edged higher, while Intel (INTC) jumped 4% in premarket trading, recovering some of the ground lost during a recent sell-off that included an 8% decline on Monday.

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As Yahoo Finance's Jared Blikre points out, chip and memory stocks have lost about $3.7 trillion in market value since Oct. 6, by Yahoo Finance calculations. Nvidia lost the most in dollar terms, but Intel's nearly 50% drop is the steepest among the giants.

Semiconductor companies have been key beneficiaries of the AI build-out. Concerns over AI spending and neocloud debt weighed on the sector in recent weeks.

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Source: “AOL Money”