With Chips / semis (SOXX) up 2.7%, this looks like a sector-led move rather than a company-specific surprise.
Semiconductor stocks are rallying in pre-market trading, with the SOXX ETF up over 2.5%, as investors step in to buy shares at lower prices following a recent sharp sell-off. The rebound is also fueled by renewed optimism regarding AI-related demand and anticipation of strong quarterly results from Advanced Micro Devices (AMD), which is scheduled to report after the market closes today. Gains in major chipmakers like NVIDIA and Intel are contributing to the sector-wide recovery.