Wall Street closed October with a sharp sell-off in chip stocks, led by Intel Corp. (INTC), which lost over 40% of its value in the month, its worst performance since 1974, after issuing weaker-than-expected guidance. The broader sector saw more than 10 chip stocks drop by over 20%, with Friday’s decline erasing $1 trillion in market value.
As a new week of earnings begins, attention shifts to tech mega-caps like Apple Inc. (AAPL), Advanced Micro Devices Inc. (AMD), and Qualcomm Inc. (QCOM), all reporting this week. AMD and Qualcomm each fell more than 11% on Friday, reflecting broader market volatility.
However, the most significant expected swings are in other stocks. Ten companies with a market cap of at least $25 billion are priced for moves above 10%, with five of them being tech names that dropped between 8.3% and 13.7% on Friday, according to Benzinga Pro data. An implied move measures the percentage swing in either direction that options traders expect right after earnings.
Topping the list is Moderna Inc. (MRNA), with a 14.70% implied move, followed by AppLovin Corp. (APP) at 14.62%. Other notable names include Coherent Corp. (COHR) at 14.15%, Medline Inc. (MDLN) at 13.15%, and Datadog Inc. (DDOG) at 12.81%. These companies are set to report earnings this week, with analysts and traders closely watching for potential volatility.