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Pressure mounts after financial report release; Amazon drops 7% before trading, Intel tumbles 25%
CNBC
1h ago
Ai Focus
Amazon and Intel fell before the market opened on Friday after releasing their quarterly results for September, as the figures disappointed investors. Nasdaq futures dropped by 2%. Amazon fell 7% before the opening, while Intel fell 25%. Both Amazon's revenue and profit in the third quarter fell short of expectations, and the company maintained its forecast for $220 billion in capital expenditures for 2026. Additionally, Amazon recorded negative free cash flow for the second consecutive quarter. Investors are concerned whether such large-scale AI expenditures by tech giants will yield returns.
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After Amazon and Intel announced their quarterly results for September, which disappointed investors, the stock prices of both companies fell before the market opened on Friday, dragging down NASDAQ futures by 2% and adding further pressure to a difficult week for tech stocks' financial report performances.

Amazon's stock price fell 7% before the market opened, while Intel's stock price dropped by 25%.

Amazon reported that both its revenue and profits in the third quarter fell short of expectations, while it maintained its capital expenditure forecast for 2026 at $220 billion. Amazon also stated that its free cash flow was negative for the second consecutive quarter, and the magnitude of the negative value was significantly greater than in the previous quarter.

Investors are concerned about the massive spending on artificial intelligence by tech giants and question whether these investments will yield returns.

On Thursday, the stock price of Alphabet fell by 13%, setting a new record for the largest single-day decline in the company's history. Prior to this, the company also reported a significantly expanded negative free cash flow.

Microsoft's stock price rose, as it still maintained positive free cash flow in the quarter ending September.

This is a report that is still developing. Please come back later for more updates.

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