Semiconductor stocks advanced in premarket trading on Wednesday as investors positioned for Nvidia’s closely watched first-quarter earnings report, with Intel leading gains after snapping a sharp five-day losing streak.
Intel (INTC) shares rose more than 4% before the opening bell, following a 2.4% gain on Tuesday that ended a five-session slide during which the shares had fallen 16%.
The rebound suggested renewed investor confidence in the chipmaker following concerns that its recent weakness could signal fading momentum.
The stock, which remains up about 200% this year, appeared to regain traction alongside a broader recovery in semiconductor names.
Other major chipmakers also traded higher in premarket activity, with Advanced Micro Devices climbing more than 2%, Qualcomm rising 3.5%, and Micron Technology gaining 4%.
Marvell Technology surged more than 5%.
Nvidia results seen as crucial test for AI trade
Investor attention is now firmly focused on Nvidia’s earnings report due after market close on Wednesday, which is expected to offer the latest indication of whether spending on artificial-intelligence infrastructure remains strong.
Wall Street analysts expect Nvidia to report revenue of about $79 billion, representing growth of 78% from a year earlier.
Earnings per share are projected to rise to $1.78 from $0.86 in the same period last year.
The results are widely viewed as an important barometer for the broader AI trade after months of heavy investment by major technology companies in data centers and AI computing infrastructure.
“Nvidia’s results or guidance and the discussion on the call can give investors more confidence that this AI buildout will last not just a quarter, not just 2026, but into 2027 and 2028 and beyond,” JoAnne Feeney, portfolio manager at Advisors Capital Management, said in a Bloomberg report.
“That will be reassuring,” she added.
Analysts remain bullish on Intel
Despite recent volatility in chip stocks, analysts have largely maintained optimistic views on Intel’s long-term prospects.
Seaport analyst Jay Goldberg said many semiconductor names appeared to be trading ahead of their underlying fundamentals, but argued Intel and AMD had stronger potential to justify current valuations through earnings growth.
“Some companies, such as AMD and Intel, have good prospects for growing into those numbers sooner,” Goldberg wrote in a note on Monday, while cautioning that the semiconductor market could remain volatile in the near term.
He also noted that Nvidia continues to face exceptionally high expectations and ongoing supply constraints.
Several brokerages have raised their price targets on Intel this week.
Melius Research analyst Benjamin Reitzes reiterated a buy rating and lifted his target price to $150 from $100, the highest target currently among analysts covering the stock.
Benchmark analyst Cody Acree also raised his target to $140 from $105 after a recent discussion with company executives, while Citi analyst Atif Malik increased his target to $130 from $95.
Malik said he expects the central processing unit market to expand 35% annually to $132 billion by 2030, driven by growing demand for processors powering AI agents and enterprise AI systems.
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