Semiconductor shares rise as investors await Nvidia’s quarterly results, signaling AI demand and sector recovery.
Semiconductor stocks extended gains for a second day, led by Intel (INTC), Micron (MU), and Sandisk (SNDK), as Nvidia (NVDA) prepared to release earnings. Nvidia’s shares rebounded over 1%, lifting the broader chip sector amid a recent sell-off driven by inflation concerns and rising bond yields.
The sector had pulled back from record highs after a strong run, with memory and storage stocks like Micron and Sandisk recovering from profit-taking. Nvidia’s results, due after Wednesday’s close, are seen as a key indicator of AI demand and hyperscaler spending trends.
Investors will focus on Nvidia’s gross margins and whether demand for AI infrastructure remains robust. The company’s performance is expected to set the tone for the semiconductor industry’s near-term outlook.