Intel shares fell 25 per cent and Amazon dropped 7 per cent in premarket trading on Friday after both companies reported September-quarter results that disappointed investors, CNBC reports. Nasdaq futures were down 2 per cent.
Amazon missed expectations on both revenue and profit while keeping its forecast of US$220 billion in capital spending for 2026. It also reported negative free cash flow for a second quarter in a row, with a much larger shortfall than in the previous period.
The falls cap a difficult week for technology earnings, as investors question whether the huge sums big tech firms are spending on artificial intelligence will pay off. Alphabet shares closed 13 per cent lower on Thursday, their worst one-day fall, after it also reported sharply negative free cash flow. Microsoft shares rose after it stayed cash flow positive.
Source: CNBC
