Chipmakers rebounded in premarket trading on Tuesday after heavy losses in the prior session, with investors buying back into the sector ahead of AMD's quarterly results and digesting a mix of analyst notes and supply-chain reports.
AMD rose 2.92%, Intel gained 2.85% and Nvidia added 1.58% before the opening bell, according to the report.
AMD Earnings in Focus
AMD is scheduled to report third-quarter results after the close. Revenue is expected at about $13.1 billion, up 42%, with adjusted earnings of $1.95 a share. Investors will be watching the company's data centre sales and its guidance for the next quarter closely.
Analyst views were mixed on rating but positive on price targets. Morgan Stanley's Joseph Moore lifted his target to $510 while keeping a Hold rating, while BMO's Harsh Kumar reiterated a Buy rating with a $550 target.
Nvidia and Supply-Chain Developments
Nvidia's gain followed a Financial Times report that the company has asked cloud partners to sell at least 51% of future capacity to non-Chinese customers.
Separately, Samsung will reportedly make HBM base dies for AMD and Nvidia at a new Texas plant starting in 2030.
Intel's Rebound
Intel's move higher follows two sharp declines driven by its weak fourth-quarter outlook.
