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US Stock Analysis and Analyst Forecasts — November 2, 2026

Intel and the memory-chip makers extended last week's selloff, Rivian jumped more than 10% on fresh analyst upgrades, oil sank over 8% on Iran-Qatar talks over the Strait of Hormuz, and investors braced for Tuesday's midterm elections alongside earnings from Apple, Palantir, AMD, Booking Holdings and Roku.

None of the following is our own view on any stock — it is a same-day record of market action, analyst activity and company news across the tracked universe on Monday, November 2, 2026, the trading session before the U.S. midterm elections.

Major indexes finished mixed as investors positioned for Tuesday's vote, in which all 435 House seats and 35 of the Senate's 100 seats are being decided. The S&P 500 closed down 0.50% at 7,542.32 and the Nasdaq 100 fell 1.39% to 27,989.82, while the Dow Jones Industrial Average added 0.41% to 51,983.98. Early-voting data cited Monday showed Democrats accounting for roughly 43% of ballots cast against 31% for Republicans and 25% unaffiliated, with record early-voting turnout reported in Texas, Georgia and North Carolina; President Trump said he would become "Mr. Veto" if Democrats win control of the House and Senate. Oil fell sharply after Qatar and Iran held weekend talks on reopening the Strait of Hormuz: Brent crude dropped 8.3% to about $103 a barrel after Iran reportedly offered to shorten its timeline for reopening the strait to two days from seven in exchange for seven conditions, including an end to the U.S. blockade on Iranian ports and the release of frozen Iranian assets, with Washington yet to respond. Gold rose about 1.8% on the day.

Intel (INTC) extended last week's post-earnings slide, falling close to 8% in Monday's session on top of Friday's roughly 28.6% plunge, even though the chipmaker beat estimates for a fourth straight quarter in its third-quarter report. The renewed pressure traces to Intel's fourth-quarter guidance of $15 billion to $16 billion in revenue and about $0.25 of adjusted earnings per share, short of the roughly $17.1 billion and $0.43 Wall Street had penciled in, with management pointing to a PC slowdown it expects to persist into the first half of next year. Bulls point to rising data-center and AI revenue, shrinking foundry losses and the U.S. government's equity stake in the company; bears point to encroaching PC competition and broader doubts about AI-spending durability. The Street consensus on Intel is Hold, from seven Buy, 24 Hold and one Sell rating over the past three months, with an average price target of $91.62, about 39% above Monday's level.

The memory-chip selloff also carried into a second session. Micron (MU) fell about 5.5% Monday on top of Friday's 5.3% loss, and SanDisk, which sits outside our tracked universe, dropped roughly 6% after plunging 13.5% on Friday — even though SanDisk's fiscal first-quarter revenue had jumped 378% year over year to $11.03 billion, ahead of the $10.72 billion analysts expected, alongside a newly announced eight-for-one stock split set to take effect around November 20. The latest pressure traces to Japan's Kioxia, a SanDisk manufacturing partner, which told investors NAND flash prices are likely to stay roughly flat next quarter after rising more than 20% in the quarter through September, raising doubts that the sharp profit gains memory makers have booked this year can continue; Intel's warning about memory costs discouraging PC purchases added to the caution. Wall Street has stayed bullish through the drop: Micron carries a Strong Buy consensus (28 Buy, one Hold) with an average target of $1,621.67, implying about 83% upside, while SanDisk's Strong Buy consensus (15 Buy, three Hold) carries an average target of $2,080.59, about 81% above current levels.

Rivian (RIVN) moved the other way, climbing more than 10% to around $13 even after Bank of America's Alexander Perry reaffirmed his Sell rating and $14 price target, arguing that early demand for the cheaper R2 SUV is encouraging but that supply remains a limiting factor. The rally came as UBS's Joseph Spak and Jefferies' Philippe Houchois both raised Rivian to Buy, pointing to solid early R2 demand and, in Jefferies' case, stronger-than-expected conversion of R2 pre-orders into sales. The moves build on Rivian's October 29 report of a record 19,248 third-quarter deliveries, up 46% from a year earlier, with the R2 becoming the company's best-selling model. The Street consensus on Rivian is still Hold, from eight Buy, five Hold and four Sell ratings, with an average price target of $16.82, about 38% above current levels.

Elsewhere, Cantor Fitzgerald's Thomas Blakey raised his price target on Palantir (PLTR) to $206 from $157 ahead of the company's results, due after Monday's close alongside Apple's (AAPL); Blakey said he expects Palantir to beat both revenue and adjusted-earnings estimates. Marvell, which is outside our tracked universe, agreed to acquire optical-components maker Lumentum, also untracked, in a deal valued at about $115 billion, with Lumentum holders set to receive 4.5 Marvell shares for every share they hold. Advanced Micro Devices (AMD), Booking Holdings (BKNG) and Roku, the last of which is untracked, are scheduled to report Tuesday after the close, the same day polls close in the midterm elections.

As always: a price target is one firm's estimate rather than a forecast of what a stock will do, a single report can move a stock far from where the consensus sits, and none of this is a recommendation to buy or sell anything.

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Published 2026-11-02. Market commentary, not investment advice. Prices are delayed end-of-day data.