The semiconductor sector, which was riding high on the expansion of artificial intelligence (AI) applications, faltered on the fading AI craze and tech sell-off in August and weak demand from China. However, the new monetary easing era led to a rally in semiconductor stocks over the past month. 

VanEck Vectors Semiconductor ETF SMH, iShares Semiconductor ETF SOXX, First Trust NASDAQ Semiconductor ETF FTXL, Strive U.S. Semiconductor ETF SHOC and Invesco PHLX Semiconductor ETF SOXQ plunged 8.1%, 12.3%, 12.8%, 11.7% and 10.1%, respectively, over the past three months. The weak trend might reverse in the weeks ahead as the third-quarter earnings season unfolds (read: What Lies Ahead for Semiconductor ETFs: Boom or Gloom?).

Some well-known players in the space, such as Texas Instruments (TXN), Lam Research (LRCX), Intel (INTC), Qualcomm (QCOM), Advanced Micro Devices (AMD) and NVIDIA (NVDA), will report earnings in the coming weeks. Let’s delve into the financial picture of the companies with a higher allocation in the abovementioned ETFs and see their power to move the funds up or down as the earnings season unfolds. SHOC is largely concentrated on these firms with a combined share of 47.4%, followed by 42.1% for SMH, 37.3% for SOXX, 37.2% for SOXQ and 35.1% for FTXL.

Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

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Inside Our Earnings Prediction

Texas Instruments is set to report on Oct 22, after market close. It has an Earnings ESP of +0.44% and a Zacks Rank #3 (Hold). The stock saw no earnings estimate revision over the past 30 days for the to-be-reported quarter. The earnings surprise track record over the last four quarters has been good, with the average beat being 4.97%. 

Lam Research has an Earnings ESP of -0.06% and a Zacks Rank #3. The stock saw no earnings estimate revision over the past 30 days for the to-be-reported quarter. The earnings surprise track over the last four quarters has been good, with the beat being 8.73%, on average. Lam Research is scheduled to report on Oct. 23.

Intel has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The stock saw no earnings estimate revision over the past 30 days for the to-be-reported quarter. Intel delivered an earnings surprise of 19.1%, on average, for the preceding four quarters. It is slated to release earnings after market close on Oct. 31.

Qualcomm has an Earnings ESP of +0.48% and a Zacks Rank #3. The company witnessed no earnings estimate revision over the past 30 days for the to-be-reported quarter. Qualcomm delivered an earnings surprise of 7.60% in the trailing four quarters, on average. The company is slated to report earnings after the closing bell on Nov. 6 (see: all the Technology ETFs here).

Advanced Micro Devices has an Earnings ESP of 0.00% and a Zacks Rank #3. Its earnings surprise history is impressive, with the average beat being 2.32% for the preceding four quarters. The stock witnessed no earnings estimate revision over the past 30 days for the quarter to be reported. AMD is slated to report earnings on Oct. 29 after the closing bell.

NVIDIA currently has an Earnings ESP of +0.09% and a Zacks Rank #2. This videogame-gear specialist saw no earnings estimate revision over the past 30 days for the fiscal third quarter 2025. NVIDIA delivered an earnings surprise of 12.70%, on average, in the last four quarters. NVIDIA is slated to report on Nov. 19.