Key Highlights

  • Advanced Micro Devices (NASDAQ:AMD) was trading down 9.02% at USD 532.53 on Friday, November 13, 2026, which is about USD 87 billion of Market Value from the prior close (calculated).
  • Marvell Technology (NASDAQ:MRVL) was trading down 7.72% at USD 151.76, while its all-stock Lumentum deal carries an implied Enterprise value of USD 115 billion at a fixed ratio of 4.500 shares.
  • Tower Semiconductor (NASDAQ:TSEM) was trading down 7.66% at USD 145.76 after guiding fourth-quarter Revenue to about USD 600 million, and MACOM Technology Solutions (NASDAQ:MTSI) was trading down 7.45% at USD 227.45 despite 62.7% revenue growth.
  • Teradyne (NASDAQ:TER) was trading down 6.8% at USD 245.84, with third-quarter revenue up 70% to USD 1.306 billion but fourth-quarter guidance flat at USD 1.25 billion to USD 1.35 billion.

Advanced Micro Devices (NASDAQ:AMD): A USD 87 Billion Drop After a Day of Good Headlines

Advanced Micro Devices (NASDAQ:AMD) was trading down 9.02% at USD 532.53 in live market data, implying a prior close near USD 585.30 (calculated). Published headlines on the prior session said the shares rose on Nvidia's turmoil, that one research firm upgraded them and that another raised its target to USD 700 from USD 650. AMD also announced an Investment in PsiQuantum. No company announcement explaining Friday's fall was found. Published market data put trailing revenue near USD 45.44 billion and trailing Net Income near USD 7.62 billion, with a market value near USD 960 billion, so the Equity is worth about USD 873 billion now (calculated). Third-quarter results came on November 3, 2026, but revenue and guidance figures were not retrieved. A published report said the shares fell about 13% on November 5 as the PHLX Semiconductor index dropped 7.5%. Chip stocks tend to move together, which is context, not a verified cause.

Marvell Technology (NASDAQ:MRVL): The Fixed Ratio Behind the Lumentum Deal Cuts Both Ways

Marvell Technology (NASDAQ:MRVL) was trading down 7.72% at USD 151.76, implying a prior close near USD 164.46 (calculated), and no company announcement for November 11 to 13 was found. The all-stock Lumentum deal of November 2, 2026 pays 4.500 Marvell shares per Lumentum share, with an implied enterprise value of USD 115 billion. Dividing the announced value of about USD 1,132 per share by the ratio gives a Marvell reference price near USD 251.56 (calculated), while at USD 151.76 the ratio is worth about USD 682.92 (calculated). Marvell holders would own about 67% of the combined company, with completion expected in the first half of 2028 and more than USD 1 billion of run-rate synergies cited. Published market data reported Shareholder criticism and target cuts, which were not confirmed. A fiscal third-quarter date of December 1 is also unconfirmed.

Tower Semiconductor (NASDAQ:TSEM): Record Guide, Narrow EPS Miss and a Stock 54% Below Its High

Tower Semiconductor (NASDAQ:TSEM) was trading down 7.66% at USD 145.76, implying a prior close near USD 157.85 (calculated), and no company announcement for November 11 to 13 was found. The specialty analog foundry reported third-quarter revenue of USD 526.2 million on November 2, 2026, up 33%, with adjusted Earnings of USD 1.05 a share against a USD 1.06 forecast. Fourth-quarter revenue is guided to about USD 600 million, plus or minus 5%, against a USD 579.7 million consensus, with a silicon photonics run rate near USD 1.1 billion targeted. These figures come from one published coverage article. Operating Cash Flow was USD 185.2 million against USD 190.7 million of equipment spending. The 52-week range is USD 77.04 to USD 319.94, so the price is about 54% below the high (calculated). Customer concentration in AI optics, heavy Capital spending and a rich multiple are the risks, as market data put the multiple near 70 times trailing earnings on October 26.

MACOM Technology Solutions (NASDAQ:MTSI): A 62.7% Revenue Jump While the Stock Fell Into the Print

MACOM Technology Solutions (NASDAQ:MTSI) was trading down 7.45% at USD 227.45, and no company announcement explaining the move was found. The analog, RF and optical chip designer reported fiscal fourth-quarter revenue of USD 424.8 million on November 5, 2026, up 62.7% and above a USD 420.2 million consensus, with adjusted earnings of USD 2.09 against USD 2.00 expected. Data Center revenue reached USD 188.1 million, up 37% sequentially, and December-quarter adjusted earnings are guided to USD 2.21 to USD 2.29 a share. The shares peaked at USD 353.54 on October 6 and touched USD 209.51 on November 4, so today's price is about 35.7% below that peak (calculated). Book-to-bill fell to 1.4, capital spending is rising and telecom is guided flat to slightly lower. Gross Margin gains are expected to slow, and net cash was USD 451.7 million. Management cited about USD 2 billion of fiscal 2027 revenue as an ambition, not formal guidance. A sector link for November 13 was not documented.

Teradyne (NASDAQ:TER): A 70% Revenue Jump Meets a Flat Fourth-Quarter Guide

Teradyne (NASDAQ:TER) was trading down 6.8% at USD 245.84, and no company announcement or verified sector driver for November 11 to 13 was found. The test-equipment maker reported on October 27, 2026 revenue of USD 1.306 billion, up 70% from USD 769 million but slightly below the second quarter's USD 1.329 billion. Non-GAAP earnings were USD 2.29 a share, and fourth-quarter revenue guidance of USD 1.25 billion to USD 1.35 billion has a midpoint near the third quarter's level. One published analysis read that as a possible peak in AI test demand, which is interpretation, not a company statement. It said the shares fell 17% in the week to November 3, with UBS cutting its target to USD 430 from USD 485. Cash was USD 460.7 million, and USD 99.3 million of stock was repurchased in the quarter. A flat guide, concentration in AI-linked Demand and moves unrelated to company news are the risks.

Where Things Stand

Earnings alone do not explain the moves, and no shared driver was verified for November 13. The five fell between 6.8% and 9.02% after very different reports. Tower Semiconductor (NASDAQ:TSEM) guided above consensus. Teradyne (NASDAQ:TER) guided flat. Advanced Micro Devices (NASDAQ:AMD) had a run of favorable headlines the day before. Marvell Technology (NASDAQ:MRVL) is a pending acquirer with a fixed exchange ratio. MACOM Technology Solutions (NASDAQ:MTSI) beat estimates yet had already fallen about 35.7% from its peak. The likeliest common thread is Volatility in chip shares, though that is not confirmed. Next markers are Nvidia's November 17 results, deal approvals and fresh guidance.