Quick Read – Intel surged 6% on RBC’s Q2 beat preview while AMD jumped 4% after Rosenblatt and UBS raised their price targets to $665 and $700, respectively. – The SOXX ETF gained 4% as NVIDIA and broader chip names joined the rebound, though the sector remains down 18% over the…
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Intel (NASDAQ:INTC) shares are up 6% to $102.53 in early Tuesday trading, leading a broad chip rebound after a preview note from RBC Capital Markets flagged a likely Q2 revenue beat. The move extends day two of a semiconductor rally following last week’s rout. Advanced Micro Devices (NASDAQ:AMD) stock is up 4% to $523, while Broadcom (NASDAQ:AVGO) shares are climbing 3% to $390.
The iShares Semiconductor ETF (NASDAQ:SOXX), which holds all three names, is up 4% to $547. The rally lines up with strength overseas. South Korea’s Kospi closed up 3.6%, Japan’s Nikkei rose 3.3%, and Taiwan gained 4.2%, per Yahoo Finance and AP reports.