AMD rose 5% to $489.82, Intel gained 4% to $62.11 and Marvell added 2% to $174.53 as chip stocks rebounded after a sharp selloff, though AMD is still down 23% over the past month. The rout began when Intel guided fourth-quarter 2026 revenue to $15 billion to $16 billion, below the $17 billion analysts had projected, citing a weaker PC market. AMD reports third-quarter 2026 results after the close on November 3, with consensus calling for EPS of $1.97 on $13 billion of revenue and Data Center sales of $8.19 billion, up 88% year over year. Bank of America downgraded Marvell to Neutral and cut its target to $225 from $400 following Marvell's all-stock deal to buy Lumentum, while Morgan Stanley raised its AMD target to $510 from $465 and kept an Equal weight rating.
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