Semiconductor stocks rebounded on Tuesday, with Intel and AMD leading the charge as a broader recovery in US equities took hold. The move came as Treasury yields pulled back from recent highs, easing some of the pressure that had weighed on growth-oriented technology names in prior sessions.
Intel shares advanced roughly 2%, while AMD jumped about 4%. The Philadelphia Semiconductor Index rose 1.4%, outpacing the S&P 500's 0.3% gain. The Nasdaq Composite added around 0.5%, and the Dow Jones Industrial Average edged up 0.13%.
The benchmark 10-year Treasury note yield slipped to 4.658%, extending a decline from Monday. Reports that the US Treasury Department could use its $1 trillion General Account to fund bond repurchases helped push yields lower. Reduced yields tend to support higher-growth stocks by lowering the discount rate applied to future earnings and improving risk appetite.
Pelosi disclosure adds to Intel momentum
Intel also drew attention after a congressional filing revealed that the household of former House Speaker Nancy Pelosi had purchased a sizable stake in the chipmaker. The disclosure showed purchases on July 24 of 10,000 Intel shares valued between $500,001 and $1 million, along with 50 call contracts with a $50 strike price expiring June 17, 2027, valued between $250,001 and $500,000. The transactions were identified as spouse-owned, indicating they were made by Paul Pelosi.
The filing comes as Intel has attracted renewed investor interest around its manufacturing ambitions and efforts to strengthen its position in artificial intelligence. Bloom Energy, another company in which the Pelosi household disclosed a new position, also jumped on Tuesday. The latest purchases represent the third set of transactions disclosed by Pelosi, and both Intel and Bloom Energy have posted substantial gains in 2026. Bloom Energy was up 136.6% through Monday, while Intel had gained 124% year to date.
However, congressional disclosures do not necessarily indicate future stock performance, particularly because the trades may have occurred weeks before they become public.
AMD gets bullish analyst call
AMD received an additional boost after Raymond James upgraded the stock to Strong Buy from Outperform and raised its price target to $641 from $565. AMD currently trades at $471.54, implying about 40% upside from Monday's closing price.
Raymond James analyst Simon Leopold said on Tuesday that “AMD offers the strongest combination of direct earnings leverage, datacenter positioning and market-share gains.” Leopold expects AMD's growth trajectory to allow the company to overtake Intel in the CPU market by 2027. Raymond James projects the overall CPU market to reach approximately $201 billion by 2030, including conventional data center CPUs, AI head-end CPUs, and agentic CPUs. The firm sees the growing adoption of autonomous AI agents as the “principal new growth engine for the CPU market,” potentially creating another major source of demand for processors.
Investors are also looking ahead to Nvidia's upcoming earnings report, which could provide fresh signals on demand for AI infrastructure and the broader health of the chip industry. The recent chip stock slide ahead of Nvidia's report underscores the market's sensitivity to AI-related news. Meanwhile, the Treasury buyback plan has been a key driver of the yield move, and its impact on long-duration assets is being closely watched.
Despite Tuesday's gains, the semiconductor sector remains volatile, with concerns about valuations and the pace of AI spending. The recent slide in AI infrastructure stocks on rising yields highlights the sector's sensitivity to macroeconomic factors. As earnings season continues, investors will be parsing results and guidance for clues about the sustainability of the current rally.
This article is for informational purposes only and does not constitute financial advice.
