Semiconductor stocks rise on Big Tech earnings, Qualcomm beat

What happened: Semiconductor stocks roseate connected Thursday. Qualcomm (QCOM) surged 9% successful premarket trading, portion peers Broadcom (AVGO), Intel (INTC), and AMD (AMD) climbed higher arsenic well.

What’s down the move: Big Tech net from companies similar Meta Platforms (META) and Microsoft (MSFT) showed hyperscalers program to turn their superior expenditures connected artificial quality infrastructure.

Wall Street sees the makers of the cardinal processing units (CPUs) needed for agentic AI, specified arsenic Intel and AMD, arsenic beneficiaries of the trade. The outgo of representation and information retention has besides benefited players similar Sandisk (SNDK), Western Digital (WDC), and Seagate (STX), which rallied premarket pursuing Seagate’s beardown results.

Meanwhile, Qualcomm’s better-than-expected archetypal 4th results besides lifted the broader spot sector. The shaper of smartphone processors said it sees the marketplace for Chinese phones bottoming successful the existent quarter, a affirmative motion for the company. It besides said it expects to vessel customized silicon to an unnamed hyperscaler aboriginal this year.

What other you request to know: Semiconductor stocks person been connected occurrence successful caller weeks amid investors’ increasing absorption connected agentic AI, successful which bots oregon agents enactment connected users’ behalf.

This week, Qualcomm surged astir 15% aft tech expert Ming-Chi Kuo from TF International Securities said that OpenAI (OPAI.PVT) is moving with Qualcomm to make smartphone processors.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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