Chip Stocks Fall for a Second Day in the Stock Market Today, November 5, as Qualcomm Slides
Chip stocks fell for a second day before the open on Thursday after the Democrats' win, with Qualcomm sliding on weak phone chip sales, Reuters reported. Qualcomm was down 10.65% at 8:02 a.m. ET in StockTitan's real-time data, while Amazon, Meta and Alphabet rose as a slower AI build-out was seen as helping them, according to Reuters.
The short answer. Chip and data center stocks fell again after the Democrats won Congress, while Amazon, Meta and Alphabet rose, Reuters reported. After the vote, OpenAI repeated its promise to pay the full cost of the power its data centers use, CNBC reported. Seven of the 15 biggest falls on StockTitan's pre-market board at 6:30 a.m. ET were chip industry companies.
The market before the open, Thursday morning
Every company reporting the same week, with its date and time, is in StockTitan's Earnings Calendar for the Week of November 2, 2026.
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Live updates
The newest update comes first. Each one says what changed in the market's story, with the time it was written.
8:04 a.m. ET
The Bank of England raises rates as chip stocks slide further before the open
The Bank of England raised its main interest rate to 4% from 3.75%, the rise CNBC said markets expected. Eight of its nine policymakers voted for it, and one wanted a bigger rise (Bank of England decision). In the US, Dow futures were up 302 points and Nasdaq-100 futures down 0.6% at 7:46 a.m. ET, CNBC reported. Qualcomm and Arm fell further as the chip selling went on.
More results moved single stocks. Unity Software was up 19.90% at 8:02 a.m. ET after its results, StockTitan's real-time data shows. Its revenue rose 32% in the quarter, the company said (Unity release).
Two companies with weaker forecasts fell hard. In StockTitan's real-time data, Veracyte, which makes cancer tests, was down 31.45% at 8:00 a.m. ET, and chipmaker Himax Technologies was down 24.43% at 8:02 a.m. ET. Wendy's turned higher, up 0.78% at 8:01 a.m. ET in StockTitan's real-time data. StockTitan's Wendy's article explains its results and the offer it rejected.
6:48 a.m. ET
Chip stocks fall for a second day as Qualcomm slides after its results
The selling in AI stocks has gone on into a second day. Nasdaq futures dropped as chip and data center stocks stayed under pressure after the Democrats' win, Reuters reported. Qualcomm fell more than Nvidia, Marvell or Intel, according to the figures Reuters reported. Dow futures were up 262 points and S&P 500 futures down 0.1% at 5:43 a.m. ET, CNBC reported. US crude oil was steady after Wednesday's 8% drop, according to CNBC.
Results from Wednesday evening and this morning move single stocks the most. AppLovin jumped, and MNTN plunged after it cut its forecast for the year (MNTN release).
Why are chip stocks down today
Chip and data center stocks fell for a second day after the Democrats won Congress, including in states where voters pushed back on data centers, Reuters reported. Amazon, Meta and Alphabet rose.
Thursday is the second day of the selling. On Wednesday, data center stocks fell as the election results came in, as StockTitan's data center stocks article explained. On Thursday, chip stocks extended those losses, Reuters reported. Public opposition to the industry's fast growth has been rising in some key data center states, where Democrats won, according to Reuters. UBS strategists said about 30% of the data center additions expected in 2028 are now at risk of being affected, Reuters reported.
The fall reached across the chip industry. Nvidia, Marvell Technology and Intel all slipped, Reuters reported. Seven of the 15 biggest pre-market losers on StockTitan's board at 6:30 a.m. ET were in the chip industry, from SK hynix, which makes memory chips, to Arm, which licenses chip designs.
Data center companies fell too. CoreWeave and Nebius, which rent out AI computing power, were down 4.06% and 4.46% at 8:02 a.m. ET, StockTitan's real-time data shows. CNBC tied their drop to worries about a backlash against the industry after the votes in several states. Server makers Dell and HPE fell too, Reuters reported.
The biggest tech companies moved the other way. Amazon, Meta and Alphabet rose, because a slower AI build-out was seen as helping them, Reuters reported. Amazon was up 2.13% at 8:02 a.m. ET, StockTitan's real-time data shows. Tesla and SpaceX fell for a second day, Reuters reported.
Amazon also had news of its own this morning. US Prime members can now order Uber Eats restaurant food right on Amazon, with no delivery fee on orders of $25 or more, the company said (Amazon release). StockTitan's article on the deal explains what changes for Prime members.
The selling continued overnight in Asia. South Korea's Kospi index closed down 5.28%, and SK hynix, a big memory chip maker, fell 9.03% in Seoul, CNBC reported. Investors there feared a Democratic Congress could bring tighter limits on data centers, according to CNBC. Chinese tech stocks went the other way, with Alibaba and Tencent rising in Hong Kong, CNBC said.
The AI companies are answering the vote. OpenAI repeated its promise to pay the full cost of the power its data centers use, CNBC reported. The pledge came two days after voters at the polls rejected the rapid spread of AI, CNBC said.
Why is Qualcomm stock down today
Qualcomm's sales of phone chips came in below what Wall Street expected, because of weak demand and less business from Apple, Reuters reported. The company says its businesses outside phones will keep growing.
Qualcomm reported its results for the quarter to late September after Wednesday's close. Its phone chip sales fell 26%, as StockTitan's Qualcomm article explains. That missed Wall Street's estimates, on sluggish demand and falling revenue tied to Apple, Reuters reported. Its overall earnings beat estimates, CNBC noted, yet the stock still fell.
The company says it is growing outside phones. It expects sales from those businesses to grow more than 60% in fiscal 2027, its new year (Qualcomm release). In StockTitan's real-time data, Arm, which also reported on Wednesday evening, was down 7.03% at 8:02 a.m. ET. Its revenue rose 27% to $1.44 billion in the quarter (StockTitan's Arm article).
Biggest stock movers today and why
Outside the chip slide, the biggest moves come with company results. TrueBlue and AppLovin jumped, while MNTN and Snap fell.
MNTN, which sells TV advertising tools, had the biggest drop. It was down 46.96% at 8:01 a.m. ET, StockTitan's real-time data shows. MNTN cut its revenue forecast for the year, citing "unforeseen execution problems" in its sales team, and it named a new chief executive (MNTN release).
TrueBlue, which finds workers for businesses, was up 30.78% at 7:55 a.m. ET in StockTitan's real-time data. Its chief executive said the quarter beat the company's own expectations for revenue and profit (TrueBlue release). AppLovin, which sells tools that help apps find users through ads, jumped after it beat profit estimates for the quarter, Reuters reported.
Snap, which owns Snapchat, fell after its revenue missed estimates, Reuters reported. Ingredion, which makes ingredients for food companies, said its results fell short of its own expectations and lowered its forecast for the year (Ingredion release). Dutch Bros, Fastly and HubSpot each fell more than 8% after their results, in StockTitan's real-time data from 7:54 to 8:02 a.m. ET (Dutch Bros release, Fastly release, HubSpot release).
ADMA Biologics, which makes drugs from donated blood plasma, also rose after its results, and so did Sunrun, which puts solar panels and batteries on homes. EPAM Systems, a software services company, rose after its results this morning. Unity Software rose after its results too, while Veracyte and Himax Technologies fell after giving weaker forecasts. The table gives the news each company reported.
Wendy's traded lower early in the morning, StockTitan's real-time data shows, then turned higher. In a release at 7:01 a.m. ET, Wendy's said its independent directors had rejected a $7.35 a share buyout offer from a group led by Trian Partners, saying it "substantially undervalues" the company. Its board had also adopted a shareholder rights plan on Wednesday, a step that makes an unwanted takeover harder (Wendy's release). Its US same-restaurant sales fell 5.7% in the third quarter (Wendy's results release).
| Company | Move | Why |
|---|---|---|
| TrueBlue (TBI) | +30.78%, pre-market, 7:55 a.m. ET | Third-quarter revenue rose 21% to $521 million, beating the company's own expectations for revenue and profit (release). |
| Sunrun (RUN) | +22.19%, pre-market, 8:02 a.m. ET | Installations in its direct business rose 9%, a return to growth (release). |
| AppLovin (APP) | +21.14%, pre-market, 8:02 a.m. ET | Beat third-quarter profit estimates, Reuters reported; revenue came in $100 million above the top of its own forecast (StockTitan article). |
| Unity Software (U) | +19.90%, pre-market, 8:02 a.m. ET | Third-quarter revenue rose 32% to $622 million, and it had its first profitable quarter under standard accounting since its listing (release). |
| ADMA Biologics (ADMA) | +19.27%, pre-market, 7:58 a.m. ET | Sales of its drug ASCENIV rose 31% to $124.7 million, total revenue rose 5%, and it raised its minimum outlook for adjusted earnings (release). |
| EPAM Systems (EPAM) | +13.21%, pre-market, 8:00 a.m. ET | Added $1.5 billion to its buyback plan and plans a $500 million accelerated buyback next week (release). |
| Celsius Holdings (CELH) | +4.88%, pre-market, 8:01 a.m. ET | Record third-quarter revenue of $847.2 million, up 17% (release). |
| MNTN (MNTN) | -46.96%, pre-market, 8:01 a.m. ET | Cut its 2026 revenue forecast to $311 million to $314 million, citing problems in its sales team, and named a new chief executive (release). |
| Veracyte (VCYT) | -31.45%, pre-market, 8:00 a.m. ET | Lowered its 2026 testing revenue forecast, and the number of its Decipher prostate cancer tests came in below its own expectations (release). |
| Himax Technologies (HIMX) | -24.43%, pre-market, 8:02 a.m. ET | Expects fourth-quarter revenue to fall 22% to 26% from the third quarter, after a sudden drop in orders for its car display chips (release). |
| Qualcomm (QCOM) | -10.65%, pre-market, 8:02 a.m. ET | Phone chip sales missed estimates on sluggish demand and lower Apple-related revenue, Reuters reported. |
| Snap (SNAP) | -10.48%, pre-market, 8:02 a.m. ET | Third-quarter revenue missed estimates, Reuters reported. |
| Ingredion (INGR) | -7.56%, pre-market, 7:54 a.m. ET | Results fell short of its own expectations, and it lowered its 2026 forecast (release). |
| CoreWeave (CRWV) | -4.06%, pre-market, 8:02 a.m. ET | AI cloud stocks fell on worries about a backlash against the industry after votes in several states, CNBC reported. |
Source: StockTitan real-time Nasdaq data, November 5, 2026, last pre-market trade against each stock's November 4 close; company releases linked in each row; Reuters and CNBC as named.
What to watch for the rest of the day
Weekly jobless claims come at 8:30 a.m. ET, and the stock market opens at 9:30 a.m. ET. Friday brings the October jobs report.
- 8:30 a.m. ET: weekly jobless claims and the government's report on worker productivity, both on StockTitan's economic calendar.
- During the day: at least three officials of the Federal Reserve, the US central bank, speak, including Richmond Fed President Thomas Barkin, Reuters reported.
- Before the open: ConocoPhillips is expected to report, CNBC reported. After the close: Airbnb and Akamai, according to CNBC.
- Friday, November 6, 8:30 a.m. ET: the jobs report for October from the Bureau of Labor Statistics, as its release schedule lists. StockTitan's jobs report preview explains what it measures.
Our numbers
These figures are our calculations from the sources linked in this article. StockTitan's pre-market board at 6:30 a.m. ET lists moves of about 4% or more in stocks that traded at least 30,000 shares.
- 7 of 15: the chip industry companies among the 15 biggest falls on that board, namely Qualcomm, ASE Technology, UMC, SK hynix, Arm, AXT and Aehr Test Systems; two of them, Qualcomm and Arm, reported results on Wednesday evening.
Frequently asked questions
What is moving the stock market today?
Chip and AI data center stocks. Nasdaq futures fell as those stocks stayed under pressure after the Democrats' midterm win, Reuters reported. At 7:46 a.m. ET on November 5, Nasdaq-100 futures were down 0.6% and Dow futures were up 302 points, according to CNBC.
Why did chip stocks fall again on November 5?
Chip and data center stocks fell for a second day after the Democrats won Congress, including in some key data center states where public opposition to the industry has grown, Reuters reported. Qualcomm, Marvell, Nvidia and Intel fell before the open. Seven of the 15 biggest pre-market falls on StockTitan's board at 6:30 a.m. ET were chip industry companies.
Why is Qualcomm stock falling after earnings?
Qualcomm was down 10.65% at 8:02 a.m. ET in pre-market trading on November 5. Its phone chip sales missed Wall Street's estimates on sluggish demand and lower revenue tied to Apple, Reuters reported.
Why is MNTN stock down today?
MNTN was down 46.96% at 8:01 a.m. ET in pre-market trading on November 5. It cut its 2026 revenue forecast to $311 million to $314 million, citing problems in its sales team, and named a new chief executive.
Why is TrueBlue (TBI) stock up today?
TrueBlue was up 30.78% at 7:55 a.m. ET in pre-market trading on November 5. Its third-quarter revenue rose 21% to $521 million, and its chief executive said results beat the company's own expectations for revenue and profit.
Why is ADMA Biologics (ADMA) stock up today?
ADMA was up 19.27% at 7:58 a.m. ET in pre-market trading on November 5. Sales of its drug ASCENIV rose 31% to $124.7 million in the third quarter, and it raised its minimum outlook for adjusted earnings.
Why is AppLovin (APP) stock up today?
AppLovin was up 21.14% at 8:02 a.m. ET in pre-market trading on November 5. It beat third-quarter profit estimates, Reuters reported, and its revenue came in $100 million above the top of its own forecast.
Why is Snap (SNAP) stock down today?
Snap was down 10.48% at 8:02 a.m. ET in pre-market trading on November 5. Its third-quarter revenue missed estimates, Reuters reported.
Sources
- StockTitan: live market coverage, November 4, 2026
- StockTitan: why AI data center stocks fell on November 4
- StockTitan: Qualcomm fourth quarter fiscal 2026 results article
- StockTitan: AppLovin third quarter 2026 results article
- StockTitan: Arm second quarter fiscal 2027 results article
- StockTitan: Amazon and Uber Eats Prime delivery article
- StockTitan: Wendy's third quarter 2026 results and Trian offer article
- StockTitan: Earnings Calendar for the Week of November 2, 2026
- StockTitan: October 2026 jobs report preview
- StockTitan economic calendar
- Qualcomm fourth quarter and fiscal 2026 results release
- TrueBlue third quarter 2026 results release
- ADMA Biologics third quarter 2026 results release
- Sunrun third quarter 2026 results release
- EPAM Systems third quarter 2026 results release
- Celsius Holdings third quarter 2026 results release
- Oscar Health third quarter 2026 results release
- MNTN third quarter 2026 results release
- HubSpot third quarter 2026 results release
- Ingredion third quarter 2026 results release
- Amazon and Uber Eats partnership release
- Wendy's release rejecting the Trian Partners-led proposal
- Wendy's third quarter 2026 results release
- Dutch Bros third quarter 2026 results release
- Fastly third quarter 2026 results release
- Unity third quarter 2026 results release
- Veracyte third quarter 2026 results release
- Himax Technologies third quarter 2026 results release
- Bank of England: November 2026 Monetary Policy Summary and minutes
- Bureau of Labor Statistics: Employment Situation release schedule
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.