In extended trading on Thursday, Amazon's shares fell over 6% after the company reported third-quarter earnings of $1.89 per share on revenue of $201.94 billion, both figures missing analysts' expectations of $1.96 per share and $202.31 billion in revenue. Despite the earnings miss, Amazon maintained its full-year capital expenditure guidance at $220 billion.
Meanwhile, Intel's stock plummeted approximately 21% after it provided weaker-than-expected guidance for the current quarter, projecting adjusted earnings of 25 cents per share and revenue between $15 billion and $16 billion, while analysts had anticipated earnings of 43 cents and revenue of $17.1 billion.
Additionally, Sandisk's shares dropped 3% despite beating earnings and revenue estimates, reporting adjusted earnings of $49.51 per share against expectations of $46.22, and announcing an eight-for-one forward stock split. These developments highlight the volatility in the tech sector and the potential for broader market implications as investors react to earnings performance