AMD Slips as Chip Stocks Pull Back Ahead of NVIDIA’s Earnings, Intel and Taiwan Semiconductor Also Weaken

Chip stocks started the week on the back foot, falling ahead of NVIDIA’s upcoming earnings release, a move that rippled across the broader semiconductor complex. In early trading, the iShares Semiconductor ETF (SOXX) was down about 4% to $501.17, while the iShares U.S. Technology ETF (IYW) was down about 2% to $243.24, according to the trading snapshot reported by Yahoo Finance.

The weakness showed up across multiple widely held semiconductor names. Intel shares were indicated down about 5% in the report, while AMD was down about 4% and Taiwan Semiconductor Manufacturing (TSMC) was down about 3%. The pattern suggested investors were de-risking broadly rather than targeting a single company or product cycle.

The timing of the move was tied to expectations around NVIDIA’s results, which typically act as a barometer for demand in data-center and AI-related compute. When investors anticipate earnings that could change the outlook for GPUs, accelerators, and the supply chain around them, chip stocks often trade in sympathy even before specific guidance from each company is known.

AMD’s decline in this session fits that “wait-and-see” setup. AMD, like other large semiconductor firms, is closely watched by investors for indicates about how quickly spending is translating into revenue, and for how product ramps in areas such as data-center processors and AI-adjacent compute are progressing. In Monday’s trading readout, the report did not attribute AMD’s move to any AMD-specific news, instead pointing to the market-wide tone before NVIDIA’s earnings.

While the article focused on near-term price action, it also underscored that broad semiconductor exposure matters for day-to-day sentiment. The SOXX ETF is heavily weighted toward companies that are sensitive to changes in demand expectations, and a multi-point decline in the ETF indicates that the selloff was not isolated to a single issuer. The IYW decline similarly reflected weaker trading across U.S. technology holdings more broadly, not just the most cyclical chips names.

For investors watching the semiconductor industry, this kind of pre-earnings softness often reflects positioning. Even without company-specific negatives, traders can reduce exposure into a major catalyst and wait for new information, such as revenue growth rates, margin commentary, and guidance about future orders or supply constraints. When NVIDIA is the catalyst, the read-through can extend beyond its direct results to the wider ecosystem that depends on the same end-markets and customer budgets.

That said, the report did not provide detail on which segment drove the move, whether there were analyst revisions, or whether any specific AMD event occurred the same day. It also did not disclose intraday trading beyond the figures cited for AMD, Intel, TSMC, and the two ETFs. As a result, the only firm takeaway supported by the reported information is that multiple semiconductor-related benchmarks and individual chip stocks were down ahead of NVIDIA’s earnings.