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Chips Bounce 3% Before AMD; Apple, Palantir, Shopify Slip

AI Trade — Chips Bounce 3% Before AMD; Apple, Palantir and Shopify Slip After Their Reports

The chip stocks sold this morning in Asia rise in New York: SOXX gains 3.1% and AMD 5.2% hours before its report, and the S&P 500 is up 0.4% to 7,571.4 while the Dow falls 0.5% and the equal-weight index slips. The reports are graded on their outlooks. Apple falls 2.1% on a holiday-quarter margin guide that falls short, Palantir pares a 9.2% pre-market fall to 2.5% on slower contract growth, and Shopify and Dynatrace drop 5.4% and 11.0% after trading 13% and 17% lower. Aehr Test Systems jumps 24.8% and Advanced Energy 11.0% on raised outlooks. Job openings rise to 7.52 million and lift the 10-year yield to about 4.96%. Today's close grades Amazon, Twilio and Intel; AMD reports after the bell, and the midterm results come overnight.

In this edition

SPY QQQ DIA RSP SOXX AMD NVDA AVGO

The Midday 10 Tue, Nov 3, 2026 ~60 seconds 12:30 ET

Chip stocks bounce 3% before AMD reports while the average stock slips, and four reports that beat the quarter are sold on what they say about the next one: Apple on margins, Palantir on contracts, Shopify on volume and Dynatrace on profit.

US midday, intraday quotes ~12:35 ET (delayed)

  1. The indices — tech up, the average stock down
  2. Chips — a 3% bounce before AMD reports
  3. Aehr and Advanced Energy — raised outlooks, big gains
  4. Apple — a beat, and a margin outlook that falls short
  5. Palantir — down 9% before the open, losses pared to 2.5%
  6. Software reports — Dynatrace and Shopify sold, then bought back
  7. Oracle and the compute operators — the $20 billion raise is priced
  8. Jobs, bonds and havens — job openings jump, the 10-year climbs
  9. This morning's split, reversed for a day
  10. The windows — Amazon near its paid line, Twilio and Intel sold; AMD tonight

The ten lines

  1. 1

    LEVEL The indices — tech up, the average stock down

    SPYQQQDIARSP

    The S&P 500 trades at 7,571.4, up 0.4% from Monday's 7,541.4 close, and the Nasdaq Composite is up 0.9% at 25,393, while the Dow loses 0.5% to 51,715. Monday's pattern has turned around: the equal-weight S&P 500 fund RSP is down 0.23% against a 0.37% gain for SPY, so the index rises on its largest tech names while the average stock slips. Small caps (IWM) gain 0.5%. None of the three index funds is above its 50-day average: SPY, at 754.90, is 1.6% under its line near 767.2, QQQ, at 686.50, 5.2% under its line near 724.4, and the Dow fund DIA, at 516.56, is back 0.9% under its line near 521.4 after reclaiming it on Monday. The VIX, the market's fear gauge, is 20.96, from 21.15.

  2. 2

    UP Chips — a 3% bounce before AMD reports

    SOXXAMDNVDAAVGO

    The chip stocks that led Friday's sell-off lead the rebound. The chip index fund SOXX rises 3.1% to 467.80 and the small-cap chip fund XSD 4.4%. AMD gains 5.2% to 490.89 hours before its report, Nvidia 3.2% to 208.44 after four losing sessions, Broadcom 3.3% and Micron 2.3%; Astera Labs, which also reports tonight, adds 4.6%. Asia had sold the same names this morning, with SK Hynix down 5.0% and MediaTek 7.4%. The bounce does not yet repair the trend: SOXX is still 11.4% under its 50-day average near 527.8, and AMD 10.4% under its own near 548.2.

  3. Absolute Breadth How many stocks actually participate — the breadth engine behind the index headlines. Check the breadth →
  4. 3

    UP Aehr and Advanced Energy — raised outlooks, big gains

    AEHRAEIS

    Two equipment suppliers that reported after Monday's close lead the gainers. Aehr Test Systems, which makes machines that stress-test chips before they ship, jumps 24.8% to 64.23 after beating estimates and raising its fiscal 2027 revenue outlook to $150 million, with an effective backlog of $109.3 million as of 1 November (Motley Fool, Benzinga). The stock had lost 52.0% in the month to Monday and is still 22.3% under its 50-day average. Advanced Energy, which supplies power systems to chip-equipment and data-center makers, rises 11.0% to 241.17 after EPS of $3.65 against the $3.06 consensus and a raised 2026 revenue-growth outlook of 40% (Zacks).

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C · line 11 · members

Today in line 11: why the chip bounce is a pause before AMD and not yet a turn, what five reports graded on their outlooks say about what the market pays for, why buyers under Palantir, Shopify and Dynatrace matter, and the levels and grades for Wednesday and Thursday.

The privileged, actionable read — what we do, and at which level — is in line 11, for members only.

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Further reading on Closelooknet

Ten lines on the US midday tape, not advice — an investment diary. Published every trading day at 12:30 ET. See The Morning 10 and the Daily Pulse.