US chip stocks rise after Intel's upbeat forecast fuels optimism

Lam Research

24/04/2026 11:50

** Shares of U.S. chipmakers rise premarket after Intel's upbeat forecast on demand for its central processing units (CPU)

** INTC expects Q2 revenue of $13.8 billion-$14.8 billion and adjusted EPS of 20 cents

** Analysts on an average expected revenue of $13.07 billion and EPS of 9 cents - data compiled by LSEG

** Rivals Advanced Micro Devices AMD.O and Arm ARM.O  advanced 11% and 9.5% respectively on prospects of the AI boom restoring demand for CPUs

** Shares of AI chipmaker Nvidia NVDA.O were flat

** Networking chipmakers Marvel Technology MRVL.O rises 4.5%, while smartphone chipmaker Qualcomm QCOM.O adds 1.2%

** U.S.-listed shares of contract chipmaker Taiwan Semiconductor Manufacturing TSM.N and memory chipmaker Micron Technology MU.O edge up 3.2% and 1.7% respectively

** Shares of chip-making equipment companies like Applied Materials AMAT.O, Lam Research LRCX.O and KLA Corp KLAC.O also gain more than 1% each

** The iShares Semiconductor ETF SOXX.O and the VanEck Semiconductor ETF SMH.O added 3.3% each

** The Philadelphia Semiconductor Index .SOX has added 42% YTD, until last close, largely outperforming the S&P 500's .SPX 3.8% gain

 (Reporting by Purvi Agarwal in Bengaluru)

 ((Purvi.Agarwal@thomsonreuters.com;))