the chip sector roared back from the edge of a bear market monday ahead of a fresh week of earnings reports from advanced micro devices inc and other semiconductor companies the phlx semiconductor index sox briefly dipped its toe into bear market territory in friday trading hitting an intraday low of 314748 20 lower than its closing high of 403951 on dec 27 yet the sector roared back after hitting that low friday and continued the gains into monday’s session at current levels the sox is 15 off its high still firmly in a correction but safer from a bear market while early earnings reports provided forecasts that weren’t up to wall street’s expectations there are a host more to come leading gainers monday were shares of big names with earnings reports still to come including amd amd  which rallied as much as 7 followed by shares of nvidia corp nvda  up 5 earnings preview chips may be sold out for 2022 thanks to shortage but investors are worried about the end of the party amd is scheduled to report after the close on tuesday and is widely expected to keep up its tradition of topping wall street expectation and provide as one analyst put it “an aggressive but achievable outlook for 2022” amd rival intel corp intc predicted weakerthanexpected earnings last week while wall street voiced concern about pc sales falling off netherlandsbased nxp semiconductors nv nxpi chip maker which has a large footprint in supplying chips to the beleaguered auto industry is scheduled to report its earnings monday afternoon since auto makers are one of the hardest hit industries by the chip shortage those earnings will be closely watched at last check us shares of nxp were up 6 deep dive these 7 semiconductor stocks may be close to a bottom this chart pattern shows when and how much they might rebound qualcomm inc qcom  which serves as a barometer for mobile device chips with its 5g products is scheduled to report on wednesday following that globalfoundries inc gfs reports on feb 8 nvidia reports on feb 16 marvell technology inc mrvl is forecast to report around march 10 broadcom inc avgo is expected to report around march 17 and micron technology inc mu caps the season with a report estimated around march 30 even before chip companies started to report earnings last week the sector had been threatening to slip into a bear market and fell under even more pressure as outlooks of four out of five companies were weaker than expected mostly owing to supplychain disruptions amid a global chip shortage in fact the only chip maker to forecast a strong outlook last week was texas instruments inc txn  which said it was placing “additional strategic emphasis on industrial and automotive” customers earnings preview amd is about to wander into a minefield along with intel and texas instruments last week lam research corp lrcx  which makes the manufacturing equipment chip makers need fell short of expected revenue for the quarter and issued a weakerthanexpected forecast because of supplychain problems as did rival kla corp klac  which issued a weakerthanexpected forecast additionally datastorage products company western digital inc wdc  which also forecast a weak quarter concerning performance below recent highs on a broader level the dow jones industrial average djia is 5 off its jan 4 closing high while the sp 500 index spx is 65 off its jan 3 and the techheavy nasdaq composite index comp 12 off its nov 19 high