Key Highlights

  • Texas Instruments (NASDAQ:TXN) is scheduled to report on Wednesday, October 21, 2026 in one calendar, with consensus earnings of USD 2.41 to USD 2.42 per share and revenue near USD 5.91 billion.
  • Intel (NASDAQ:INTC) is up about 175% this year before results on Thursday, October 29, with options implying a move of about 9.4%, after JPMorgan raised its rating to Neutral on Monday, October 19.
  • Advanced Micro Devices (NASDAQ:AMD) rose on Monday after TD Cowen backed its AI inference business, according to StockStory, but remained about 20% below its record, with no move size or target given.
  • All three trade in the shadow of a chip index that fell 11.4% in the week to Friday, October 16 in its longest losing streak in 16 years, so sector swings may outweigh company results.

Texas Instruments (NASDAQ:TXN): analog results set for October 21

Texas Instruments (NASDAQ:TXN) designs and manufactures analog and embedded processing chips used in industrial equipment, cars, personal electronics and data centres. It is scheduled to report third-quarter results on Wednesday, October 21, 2026, according to a published earnings calendar, although other data pages give October 20 and October 27, so the company's own announcement is the reference. Consensus earnings stand at USD 2.41 per share in one provider's data and USD 2.42 in another, with revenue near USD 5.91 billion in both.

Data centre revenue doubled in the previous quarter, as reported in a preview dated October 20, and KeyCorp (NYSE:KEY) raised its forecast for the company. The data centre link runs mainly through power management, the chips that convert and regulate electricity on its way to processors, and each new AI server rack draws far more power than a conventional one. The company also owns most of its manufacturing capacity, so higher volumes spread fixed factory costs across more units and can lift margins, while weaker volumes do the reverse. That operating leverage is why guidance on factory utilisation can matter as much as the quarter itself.

The first risk is that data centre strength is too small to offset softness in industrial and automotive orders, which remain the larger share of sales and are cyclical. The second is sentiment, since analog names can trade with the chip group regardless of their own results. The third is the date conflict across data providers, which could catch some investors off guard. Results cannot be known in advance, and fourth-quarter guidance and margins are likely to shape the reaction.

Intel (NASDAQ:INTC): an upgrade and a 9.4% implied move

Intel (NASDAQ:INTC), the US chipmaker that designs processors and is building a contract manufacturing business, has gained about 175% this year, according to an analysis published on Monday, October 19, 2026. The same analysis says the shares are sliding toward technical support, a price where buyers have previously stepped in, before results on Thursday, October 29, the date corrected earnings calendars list. The stock fell 5.8% on Friday, October 16 as the chip index dropped 3.8%, its eighth straight decline.

On Monday, JPMorgan raised its rating to Neutral, and Intel gained 4% before the open, according to CNBC's list of premarket movers. Another account describes the shares as rising about 4% that day, so the regular-session move may differ from the premarket snapshot. A move to Neutral means JPMorgan no longer expects the shares to underperform, a rating shift rather than a bullish call, which can reduce selling pressure without signalling strong upside. The same list showed Bernstein upgrading Datadog (NASDAQ:DDOG), as analysts separated usage-based software from companies exposed to capital spending cycles.

Options imply a post-results move of about 9.4%, a figure derived from a straddle, which combines a call and a put at the same strike and pays off if the shares move far in either direction. It prices the size of the swing, not its direction. After such a rally, expectations are embedded in the price, so even solid results can disappoint. The main risk is execution in the manufacturing business, where delays or weak customer commitments would challenge the case behind the gain.

Advanced Micro Devices (NASDAQ:AMD): TD Cowen backs inference

Advanced Micro Devices (NASDAQ:AMD) designs processors for personal computers, servers and AI data centres, including its Instinct accelerators and EPYC server chips. On Monday, October 19, 2026 the shares traded higher after TD Cowen endorsed the company's position in AI inference, according to StockStory, yet the stock still sat about 20% below its record. The summary does not give the size of the move or a price target, so the note should be read as an analyst opinion rather than a change in fundamentals. Marvell Technology (NASDAQ:MRVL) and Sandisk (NASDAQ:SNDK) led a broad sector recovery the same day.

AI work splits into training, where models learn from data, and inference, where trained models answer user requests. Training has favoured Nvidia (NASDAQ:NVDA), whose software ecosystem is deeply embedded. Inference runs continuously, so cost per query and memory capacity matter more and buyers are more willing to mix suppliers, which is the opening for AMD, whose accelerators carry large amounts of high-bandwidth memory. Its 2025 agreement to supply OpenAI with six gigawatts of computing capacity anchors the inference case.

The first risk is financing: the selloff began with doubts about debt-funded AI buyers, and CoreWeave's 2032 bonds yield about 14.9%. The second is competition, since Nvidia and custom chips designed by hyperscalers also target inference. The third is rates, with the 10-year Treasury yield near 5.11% on October 20 weighing on long-duration growth stocks. Meta Platforms (NASDAQ:META) capex guidance on Wednesday, October 21 will give an early read on whether AI spending holds up.

Where Things Stand

The answer is that each chipmaker faces a different test after the rout, and Monday's analyst calls eased pressure without settling the demand question. Texas Instruments (NASDAQ:TXN) reports first, and its outlook matters more than the quarter because the AI build-out reaches it through power chips rather than processors. Intel (NASDAQ:INTC) carries the highest bar, with a 175% rally to defend and an options market that prices a large swing without a direction, even after the JPMorgan move removed one source of selling. Advanced Micro Devices (NASDAQ:AMD) depends on inference buyers whose financing costs have risen, which is why a supportive note still left it about 20% below its record.

The next catalysts are Texas Instruments and Meta Platforms capex guidance on Wednesday, October 21, the Federal Reserve decision with Microsoft and Alphabet results on Wednesday, October 28 and Intel on Thursday, October 29, 2026. Consensus figures, implied moves and analyst views are estimates rather than guarantees, and this is not investment advice.