10 min read When Nvidia beat its own forecast in August and its shares jumped 8.7% the next day, AMD closed lower. Semiconductor stocks are the companies that design, make or package computer chips, and in the US the group trades largely on Nvidia’s results. But the spillover from Nvidia’s report is smaller than Nvidia’s own move, and it does not always point the same way.
This guide covers the four chip stocks most tied to the AI trade on the earnings calendar this season (Nvidia, AMD, Intel and Super Micro Computer), their Q3 report dates, and what the last four Nvidia reports actually did to the rest of the sector.
Semiconductor stocks at a glance
Prices run from the December 31, 2025 close to the October 20, 2026 close and exclude dividends. The PHLX Semiconductor Index (SOX) tracks the 30 largest US-listed chip companies and is the usual benchmark for the sector.
| Company | Ticker | What it sells | 2026 price change | Next report |
|---|---|---|---|---|
| Nvidia | NVDA | AI accelerators (GPUs), networking | +16.1% | Tue, Nov 17 (expected) |
| AMD | AMD | CPUs, AI accelerators, gaming chips | +149.7% | Tue, Nov 3 |
| Intel | INTC | CPUs, contract chip manufacturing (Foundry) | +148.5% | Thu, Oct 29 |
| Super Micro Computer | SMCI | AI servers built on Nvidia and AMD chips | +10.9% | Around Nov 3 (not yet confirmed) |
| Micron | MU | Memory (DRAM, HBM, NAND) | +214% | Mid-December (estimated) |
| Broadcom | AVGO | Custom AI chips, networking | −3.4% | Around Dec 10 (estimated) |
| TSMC | TSM | Contract manufacturing for most of the above | +39.9% | Reported Oct 15 |
| PHLX Semiconductor Index | SOX | +59.3% | ||
| S&P 500 (SPY) | +12.8% |
Sources: daily closes from Yahoo Finance; report dates from company investor-relations releases and, where marked, from earnings-calendar estimates.
The sector index is up more than four times as much as the S&P 500 this year. Nvidia, the stock most people mean by “chip stocks”, is not what carried it. Memory and CPUs did: Micron, AMD and Intel all more than doubled, while Nvidia gained about as much as the Nasdaq 100 and Broadcom slipped.
Why one company’s report moves the whole sector
Nvidia’s results are read as a demand reading for the entire AI hardware chain. Its revenue is mostly data-center spending by a handful of cloud companies, and that spending also flows to TSMC (which makes the chips), Micron (which supplies the high-bandwidth memory), Super Micro (which builds the servers) and AMD (which competes for the same budgets).
There is a mechanical reason as well. Nvidia makes up 20.5% of the VanEck Semiconductor ETF (SMH), according to its holdings as of October 17, 2026, and 7.9% of the S&P 500. Any fund, index or basket that holds the sector moves with Nvidia whether or not the other names do.
What Nvidia’s last four reports did to other chip stocks
Nvidia reports after the US close, so the first full session to price the results is the next day. The table compares the report-day close with the next day’s close for each stock.
| Nvidia report | NVDA | AMD | INTC | SMCI | MU | AVGO | SOX index | S&P 500 (SPY) |
|---|---|---|---|---|---|---|---|---|
| Nov 19, 2025 | −3.2% | −7.8% | −4.2% | −6.4% | −10.9% | −2.1% | −4.8% | −1.5% |
| Feb 25, 2026 | −5.5% | −3.4% | −3% | −3.9% | −3.1% | −3.2% | −3.2% | −0.6% |
| May 20, 2026 | −1.8% | +0.4% | −0.4% | 0% | +4.1% | −0.8% | +1.3% | +0.2% |
| Aug 26, 2026 | +8.7% | −0.9% | +4.4% | +2.9% | −0.3% | +4.5% | +2.3% | +0.7% |
Calculated from Yahoo Finance daily closes, report-day close to next-day close.
Four reports are a small sample, but three patterns stand out.
- The sector moved less than Nvidia on average. Nvidia’s average next-day move was 4.8% in either direction. The SOX averaged 2.9%. AMD, Intel and Super Micro each averaged about 3%.
- The direction matched three times out of four. The SOX followed Nvidia in November, February and August. In May, Nvidia fell 1.8% while the index rose 1.3%, led by Micron.
- A bad day can hit the peers harder than Nvidia. In November 2025, Nvidia lost 3.2% and Micron lost 10.9%, AMD 7.8% and Super Micro 6.4%. When the whole market sold off, the higher-risk names took the bigger hit.
August is the clearest example of a split. Nvidia raised its outlook and rose 8.7%, Broadcom and Intel followed with gains above 4%, and AMD fell. Three weeks earlier, AMD shares had dropped about 7% after a report that SpaceX would use Nvidia exclusively. A strong Nvidia quarter is good news for the companies that sell to Nvidia, and less clearly good for the one competing with it.
The four chip stocks on this season’s calendar
Intel (INTC): reports Thursday, October 29
Intel reports first of the four, after the close on October 29, with the call at 2:00 PM PT (5:00 PM ET, 21:00 UTC), per Intel’s investor-relations notice. It guided Q3 revenue at $15.8–16.8 billion after Q2 sales grew 25% to $16.1 billion, with its data-center division up 59% (Q2 release).
The stock has more than doubled this year, but it trades below the $95 at which Intel sold $20 billion of new shares in August. Its earnings reactions have been large in both directions: a 17% fall in January and a gain of about 24% in April. Times, consensus and the full reaction history are on the Intel earnings date page.
AMD: reports Tuesday, November 3
AMD reports after the close on November 3, with the call at 5:00 PM ET (22:00 UTC, after US clocks change on November 1), per AMD’s newsroom. It guided Q3 revenue at about $13.0 billion, plus or minus $300 million. In Q2 its data-center sales grew 107% to $6.7 billion (Q2 release).
AMD is the best performer of the four this year, and the most volatile into the report. It closed at $534.74 on October 20, about 19% below its 52-week high of $658.52. Its last three earnings reactions were a fall of more than 17%, a gain of more than 18% and a fall of about 7%. The guide to trading AMD stock covers the instrument itself.
Super Micro Computer (SMCI): expected around November 3
Super Micro’s fiscal year ends in June, so the September quarter is its Q1 of fiscal 2027. The company had not confirmed a date as of October 20; earnings calendars project November 3 after the close. In recent quarters it has announced the date alongside a preliminary business update, as it did on July 21, 2026, so the first market-moving number may arrive before the report itself.
Management guided Q1 revenue at $14.5–15.5 billion and full-year fiscal 2027 revenue at $65–72 billion, against $39.1 billion in fiscal 2026 (Q4 FY26 release). Gross margin is the number traders watch: 17.5% last quarter against 6.3% two quarters earlier. Super Micro is a server builder, so its margins depend on how much it pays Nvidia and AMD for chips.
Nvidia (NVDA): expected Tuesday, November 17
Nvidia’s investor-relations team named November 17 as the date of the Q3 fiscal 2027 call during its August 26 earnings call. The formal announcement with the call time had not been published by October 20; recent calls started at 5:00 PM ET. The company guided revenue at $108 billion, plus or minus 2%, after $96.2 billion in Q2 (Q2 FY27 release).
Nvidia beat its own revenue guidance by about 5% in each of its last three quarters, so a beat alone has stopped moving the stock. The reaction depends on the next quarter’s guide. Nvidia reports two to three weeks after the other three, which means the chip trade gets two separate tests this season: Intel and AMD on CPUs and AI accelerators in early November, then Nvidia on the whole AI build-out.
Three things that move chip stocks besides earnings
Hyperscaler capex. Chip demand is decided on other companies’ earnings calls. When Microsoft, Alphabet, Amazon and Meta report in late October, their capital-spending guidance reaches Nvidia, AMD and Super Micro before their own reports do.
Supply announcements from upstream. TSMC and ASML report weeks before the US chip designers. TSMC’s Q3 revenue grew 41% in US dollars to $46.7 billion, and it guided Q4 at $52.3–54.3 billion. AMD fell about 20% from its record in mid-October after ASML warned of supply constraints, a reminder that limited capacity can cap a chipmaker’s sales even when demand is there.
Export rules and China. Nvidia includes no China data-center sales in its current outlook. Any change in US export policy or Chinese purchasing is a sector-wide event, not a single-stock one.
How to trade semiconductor stocks around earnings
Single stocks. PrimeXBT lists share CFDs on AMD, Intel and Super Micro, which lets you go long or short around a report without owning the shares. For Nvidia and the other names, check the current share CFD list, since the lineup changes.
Indices. Nvidia alone is 7.9% of the S&P 500, and AMD, Broadcom and Micron add more chip weight on top. An index CFD on USTEC or US500 takes the Nvidia report as one input among many. How a single heavyweight’s report passes through to an index is covered in how earnings season affects stock indices.
Three practical points for the next six weeks:
- Don’t assume the sympathy move. The table above shows AMD going the other way to Nvidia in two of the last four reports. If you trade a peer on Nvidia’s numbers, size for the chance that it does not follow.
- Expect the gap at the open. All four companies report after the cash close. Spreads widen in extended hours, and stop orders can fill well away from their level when the next session opens. Ways to position before or after the release are set out in how to trade earnings.
- Read the guidance before the headline. In AMD’s February and May reports, the next-quarter outlook set the direction of the stock, not the beat on the quarter just ended. The guide to reading an earnings report shows where to find it in the release.
The full season calendar sits in the earnings season guide. For chip stocks, the date that matters most is November 17, and the two weeks before it are when the rest of the sector shows its hand.
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What are semiconductor stocks?
Semiconductor stocks are shares of companies that design, manufacture or package computer chips, such as Nvidia, AMD, Intel, Micron, Broadcom and TSMC. Server makers like Super Micro Computer are often traded alongside them because their sales depend on the same AI hardware demand.
Do chip stocks always follow Nvidia after its earnings?
No. Over Nvidia's last four reports, the PHLX Semiconductor Index moved in the same direction as Nvidia three times out of four, and AMD moved the opposite way twice. On average the sector index moved about 2.9% the next day against 4.8% for Nvidia.
When do Nvidia, AMD, Intel and Super Micro report Q3 2026 earnings?
Intel reports on October 29 and AMD on November 3, both after the US close. Super Micro is expected around November 3 but had not confirmed the date as of October 20, 2026. Nvidia named November 17 on its August call, with the formal announcement still pending.
Which semiconductor stocks have risen most in 2026?
From the end of 2025 to October 20, 2026, Micron gained about 214%, AMD about 150% and Intel about 149%, while Nvidia rose about 16% and Broadcom fell about 3%. The PHLX Semiconductor Index gained about 59% over the same period.
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