Chip-sector weakness meets a tentative memory-stock rebound

Intel’s nearly 29% Friday plunge and weak outlook remain a warning, while a report puts semiconductor ETF forward P/E at 14.7x versus 18.9x for the S&P 500 after steep October losses. Memory stocks rebounded in Nov. 2 premarket trading, including SK Hynix up nearly 5%, but Kioxia’s weaker outlook argues against calling a durable sector recovery.