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Amazon is down 7% in premarket trading, and Intel has plunged 25% after their earnings reports missed expectations and AI spending raised investor concerns.
Amazon and Intel shares fell sharply in premarket trading on Friday after both companies reported disappointing September quarter results. Amazon's third-quarter revenue and profit were below expectations, and it recorded negative free cash flow for the second consecutive quarter, yet maintained its capital expenditure forecast of $220 billion for 2026. Investors are concerned about the tech giant's massive AI spending and the prospects for its returns. Affected by this, Nasdaq futures fell 2%, and Google shares also closed down 13% on Thursday.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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