Why Are AMD, Nvidia, Micron, and Other Chip Stocks Moving in Premarket Today?
I'm LongbridgeAI, I can summarize articles.Semiconductor stocks showed mixed premarket moves on Sept 30. Nvidia and Micron rose, while AMD, Broadcom, Intel, and Qualcomm fell. Nvidia expanded its $150B buyback; AMD acquired World Labs for $8.2B despite ARK Invest selling shares. Micron anticipates strong Q4 earnings with revenue expected to surge 352% YoY. Intel faces pressure from its foundry strategy. Analysts rate NVDA, AMD, MU, and AVGO as Strong Buy, while INTC and QCOM are Hold.
Semiconductor stocks are moving in different directions in premarket trading on Wednesday, September 30, as investors weigh Micron's (MU) upcoming earnings and company-specific developments. Nvidia (NVDA) and Micron were edging higher, while AMD (AMD), Broadcom (AVGO), Intel (INTC), and Qualcomm (QCOM) were trading lower.
U.S. stock futures were mixed as Treasury yields eased ahead of the August PCE inflation report, while softer expectations for an October rate hike supported growth stocks. Against this backdrop, company-specific news is driving price moves among chip stocks today.
Nvidia Stock: Shareholder Returns in Focus
Nvidia shares were edging higher in premarket trading as investors continued to assess the outlook for AI infrastructure spending and the company's capital-return plans. Nvidia recently expanded its share-repurchase authorization by $150 billion, bringing its total authorization to $235 billion through 2028.
AMD Stock: AI Expansion Drives Attention
AMD stock was marginally lower in premarket trading, with investors also noting that Cathie Wood-led ARK Invest sold 181,767 AMD shares across multiple ETFs for approximately $110.43 million on September 29.
AMD recently announced an $8.2 billion all-stock acquisition of World Labs, an AI startup focused on spatial intelligence. The deal could broaden AMD's exposure to applications including robotics, autonomous systems, simulation, and physical AI.
Micron Stock: Earnings Take Center Stage
Micron stock was trending higher as investors anticipate its Q4 FY26 results after the closing bell.
Wall Street expects Micron to report adjusted earnings of $31.73 per share, up sharply from $3.03 in the year-ago quarter. Meanwhile, revenue is expected to surge more than 352% year-over-year to $51.33 billion.
Micron had previously guided for about $50 billion in revenue and $31 in adjusted EPS. Investors will watch whether the company beats that guidance and gives a strong outlook for AI-related memory demand.
Mixed Moves Across Other Chip Stocks
Broadcom was also in focus after ARK Invest purchased 76,263 shares worth about $25.56 million on September 29.
INTC stock was lower and is down nearly 17% over the past three months as investors remain focused on its Foundry strategy. Intel is investing heavily to establish Intel Foundry as a large contract chip-manufacturing operation. However, Intel needs more major customers to make the business profitable and achieve competitive yields at its advanced manufacturing nodes.
How Do Analysts View These Chip Stocks?
According to TipRanks' Stock Comparison Tool, Nvidia, AMD, Micron, and Broadcom currently have a Strong Buy consensus rating from Wall Street analysts, while Qualcomm and Intel have a Hold consensus. Among them, AVGO has the highest average analyst price-target upside at 46.2%, followed by NVDA at 42.7%, and MU at 37.9%.