Daily Top-10 Movers

Prices are Thursday, October 29, 2026 closes at 4:00 PM EDT. Ranked by absolute price change among semiconductor stocks with market cap ≥$5B.

★ highlighted = today’s news-driven movers.

STMicro Guides to $4.15 Billion and a 39% Gross Margin as Industrial Revenue Rises 40%

• STMicroelectronics reported third-quarter net revenues of $3.76 billion, up 17.9%, with a 37.3% gross margin and operating income of $367 million, and guided the fourth quarter to $4.15 billion, plus or minus $350 million, at a 39.0% gross margin, plus or minus 200 basis points, per the company’s release via Stock Titan (October 29). Why it matters: industrial revenue rose 12% sequentially and 40% year over year while automotive was flat sequentially and up 5% year over year, and CEO Jean-Marc Chery put backlog well above $20 billion, per the Investing.com call transcript, so on ChipSentinel’s reading the analog recovery is being led by industrial demand rather than cars.
• FormFactor reported third-quarter revenue of $280.5 million, up about 40% year over year, with non-GAAP EPS of $1.04 against $0.86 expected, and guided the fourth quarter to $285 million, plus or minus $10 million, per Investing.com (October 28). Why it matters: the shares fell 11.65% on Thursday, per Capp Notes, and by ChipSentinel’s arithmetic the guide midpoint is only 1.6% above the quarter just reported, while management said tariff refunds added roughly 300 basis points to the 56.5% non-GAAP gross margin that the 54% guide steps down from.

Sandisk Posts $11.03 Billion in Sales and an 85.1% Gross Margin, Then Slides With Memory Peers

• Sandisk reported fiscal first-quarter revenue of $11.031 billion, up 23% sequentially and 378% year over year, with an 85.1% non-GAAP gross margin and non-GAAP EPS of $49.51 against its own forecast of $44.00 to $46.00, and guided the next quarter to $12.20 billion to $12.60 billion, per Stock Titan (October 29). Why it matters: management said about 50% of bits are under long-term agreements for fiscal 2027 and roughly two-thirds for fiscal 2028 and expects pricing to rise modestly, with shares at $1,330.05, down 5.32%, at the close and $1,295.05 after hours ahead of an eight-for-one split, per Investing.com.
• Sandisk fell 7.80% and Micron 4.86% in premarket at 6:30 a.m. EDT Friday, and SK hynix’s U.S. listing fell more than 7%, per Stock Titan and TradingKey (October 30). Why it matters: Intel said rising memory prices could weigh on PC demand through the first half of 2027, per Investing.com, so on ChipSentinel’s reading memory price strength is now a cost for downstream buyers as well as a revenue driver for suppliers.

Intel Sees No Positive Free Cash Flow in 2027 as Amazon Holds Capex Near $220 Billion

• Intel said 2026 gross capex is on track for $20 billion, 2027 gross capex will be "up strongly," and free cash flow is probably not positive next year, with an Israel plant disruption costing about $300 million in the fourth quarter, per the Investing.com call transcript (October 29). Why it matters: Zinsner said Intel will not spend a dollar of capital without confidence in its products, so on ChipSentinel’s reading rising capex without free cash flow leaves Intel’s equipment orders dependent on demand that the fourth-quarter guide just cut.
• Amazon held its 2026 capex at about $220 billion, with AWS growing 39%, and its shares fell 7.14% in premarket after EPS of $1.89 missed the $1.96 expected and trailing-twelve-month free cash flow was negative $42.4 billion, per Capp Notes and Stock Titan (October 29-30). Why it matters: spending is being held rather than raised while cash flow is negative, which on ChipSentinel’s reading caps the pace at which hyperscaler budgets can add chip orders.

December Hike Odds Ease to 78% After a 3.6% PCE Reading as the Ten-Year Yield Slips to 4.98%

• September PCE rose 0.5% on the month and 3.6% on the year, core PCE rose 0.3% and 3.1%, and third-quarter GDP grew at a 3.4% annualized rate against 3.1% expected, per Capp Notes (October 29). Why it matters: CME FedWatch put the odds of a December hike at 78%, down from 84% a day earlier, per the same report, so the rate path remains the main discount-rate risk for long-duration chip valuations.
• The 10-year Treasury yield fell 7 basis points to 4.98%, back below 5%, while the Philadelphia Semiconductor Index fell 1.42% to 11,518.20, per Capp Notes (October 29). Why it matters: SOXL, a leveraged semiconductor ETF, fell 4.62% on reported outflows of $929 million, per the same report, and Nasdaq-100 futures were down 2% early Friday, per Stock Titan, so a lower yield did not offset the guidance shock in chip positioning.

BofA Cuts Intel to Neutral With a $100 Target; SemiAnalysis Sizes Up Intel’s 18A Density

• Bank of America’s Vivek Arya downgraded Intel to Neutral from Buy and cut his price target to $100 from $145 after the December-quarter guide, per Stocktwits via Yahoo Finance (October 30).
• SemiAnalysis measured Intel’s 18A compute logic as similar in density to TSMC’s N3E GPU logic but below TSMC’s N3P and N2 and Samsung’s SF2, in a teardown of Panther Lake whose compute tile is built on 18A, per SemiAnalysis (background reading, published September 26).

onsemi Reports Monday and AMD Tuesday, Both After the Close

• Monday, November 2 — onsemi announces third-quarter results after the market close, with a call at 5 p.m. Eastern, per the company’s announcement, the next read on the automotive and industrial analog cycle.
• Tuesday, November 3 — AMD reports fiscal third-quarter results after the market close, with a call at 5 p.m. Eastern, per the company’s announcement.