AMD (NASDAQ:AMD), Qualcomm (NASDAQ:QCOM) and Nvidia (NASDAQ:NVDA) were among the semiconductor industry’s biggest gainers on Monday ahead of several key earnings report from some of the sector’s biggest companies.

AMD (AMD) rose almost 8% in mid-day trading after investment firm Barclays upgraded the Dr. Lisa Su-led company, along with Qualcomm (QCOM) and Seagate Technology (STX).

“It would have been nice if the group got as cheap as we have seen in other downturns, but we underestimated the amount of money that wanted to move into semis and we don’t see the group testing October lows,” analyst Blayne Curtis wrote in a note to clients.

In addition to the upgrades, Curtis raised the firm’s price target on Nvidia (NVDA).

In addition to AMD’s (AMD) surge, Qualcomm (QCOM) added 6.2%, while Seagate (STX) gained 5.7% and Nvidia (NVDA) tacked on 5.8%.

Wolfspeed (NYSE:WOLF) gained nearly 5% after a German news outlet reported over the weekend that the company was planning a multi-billion dollar chip factory in the country.

The sharp moves higher come prior to quarterly results later this week from industry stalwarts Intel (INTC), Texas Instruments (TXN) and ASML Holdings (ASML).

A consensus of analysts estimate Intel (INTC) to earn 20 cents per share on $14.51B in revenue.

Texas Instruments (TXN), which recently announced a CEO transition, is expected to earn $2.03 per share on $4.64B in revenue.

Dutch-based ASML (ASML) is expected to earn $4.71 per share on $6.89B in quarterly sales.

Intel (INTC) gained 2.8% in mid-Monday trade, while Texas Instruments (TXN) and ASML (ASML) gained 2.8% and 3.1%, respectively.

Earlier this month, investment firm Mizuho Securities listed Qualcomm (QCOM) among its top picks in the semiconductor space for 2023.