Intel shares cratered and Amazon tumbled on Friday, as disappointing earnings reports fuelled a new wave of investor concerns over the AI buildout and the massive investments powering it.
Intel shares sank 28.51 percent after forecasting a weak fourth-quarter outlook due to slowing demand for PCs, triggering a slide for other semiconductor stocks. AMD, Arm Holdings, Nvidia and Qualcomm fell between 4 and 11.12 per cent.
Amazon recouped most of its losses to close 1.41 per cent lower after it reported a cash burn of more than $42 billion over 12 months through September, according to its third-quarter report on Thursday, roughly double its previous record in 2022.
The Nasdaq Composite closed 2.86 per cent lower after losing as much as 3.7 per cent as investors rotated out of tech and into consumer products and health care. The S&P 500 was down 1.82 per cent and the Dow Jones Industrial Average shed 572 points, or 1.09 per cent.
Google’s parent company Alphabet suffered the worst day in…
https://www.thenationalnews.com/business/markets/2026/10/30/intel-amzn-nasdaq-ai/
