Chip stocks lead tech gains after AMD’s Strong Buy rating and a Pelosi-linked Intel trade lift shares ahead of NVIDIA earnings.
AMD and Intel shares rose 3% each in early trading Tuesday, driven by a Raymond James Strong Buy upgrade for AMD targeting $641 and a disclosed Paul Pelosi trade in Intel. The broader semiconductor sector advanced at roughly a third of that pace, with the iShares Semiconductor ETF up 2% to $518.15.
AMD stock climbed to $469.89, extending its 113% year-to-date gain, while Intel reached $90.13, building on a 136% YTD advance. NVIDIA and Broadcom rose 1% each, with NVIDIA trading at $211.14 ahead of its Q2 FY2027 earnings report tomorrow. Broadcom, up 4% YTD, followed sector momentum.
The Invesco QQQ Trust rose 0.78% to $7111.84, reflecting semiconductors’ outperformance relative to the broader tech benchmark. Polymarket’s 96% probability of an NVIDIA earnings beat underscores binary repricing risks for chip stocks.