---
title: "Chip Stocks Rally After Eight Session Selloff"
canonical: "https://thestockmemo.com/article/chip-stocks-rally-after-eight-session-selloff"
markdown: "https://thestockmemo.com/article/chip-stocks-rally-after-eight-session-selloff.md"
type: article
published: "2026-10-22T06:48:04.323969+00:00"
updated: "2026-10-22T06:48:04.323969+00:00"
company: "SpaceX"
image: "https://thestockmemo.com/media/55094b2a-a306-4675-ab66-97527aa9e40b.png"
tags:
  - "Market Commentary"
  - "Semiconductors"
  - "United States"
---

# Chip Stocks Rally After Eight Session Selloff

> Premarket gains on Wednesday recovered about $274 billion of the roughly $1.6 trillion lost by 26 large U.S.-listed AI hardware stocks over the past month.

The Philadelphia Semiconductor Index rallied 2% on Wednesday after an eight-session selloff, with Benzinga tying the rebound to SpaceX's third-quarter report showing its AI business turning profitable. Super Micro Computer raised its fiscal first-quarter revenue guidance, and its shares jumped 9.6%.

## Key figures

| Field | Value |
| --- | --- |
| Company | SpaceX |

## What happened

Benzinga reported on October 21, 2026, that 26 of the largest U.S.-listed AI hardware stocks lost roughly $1.6 trillion in combined market value over the past month. Premarket gains on Wednesday put back about $274 billion of that, roughly 17% of the loss. Benzinga tied the rebound in chip, server and memory stocks to SpaceX's third-quarter report, which showed its AI business turning profitable.

The Philadelphia Semiconductor Index rallied 2% on Wednesday after an eight-session selloff. A premarket figure is measured before regular trading opens, so the final tally for the day could differ.

## Why it matters

The Philadelphia Semiconductor Index closed Tuesday down 14.6% from its October 6 close.

Guidance is a company's forecast for its own results. Super Micro Computer Inc. (NASDAQ: SMCI) raised its fiscal first-quarter revenue guidance to between $18.5 billion and $19.5 billion. Its previous range was $14.5 billion to $15.5 billion. Super Micro also forecast quarterly revenue and profit margin above Wall Street's estimates. Its shares jumped 9.6% after the improved outlook.

## By the numbers

- 26 of the largest U.S.-listed AI hardware stocks lost roughly $1.6 trillion in combined market value over the past month, according to Benzinga calculations based on TradingView data.
- Premarket gains on Wednesday recovered about $274 billion of that loss, roughly 17% of what the stocks had given up.
- Nvidia (NASDAQ: NVDA) shares advanced 2.54% on Wednesday, closing at $221.97.

---

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