Amazon, Intel Shares Sink 7% and 25% as Earnings Misses Deepen AI Spending Fears
Updated
Updated · CNBC · Oct 30
Amazon, Intel Shares Sink 7% and 25% as Earnings Misses Deepen AI Spending Fears
3 articles · Updated · CNBC · Oct 30
Summary
Amazon fell 7% and Intel plunged 25% in premarket trading after both posted September-quarter results that disappointed investors, pulling Nasdaq futures down 2%.
Amazon missed on both revenue and profit, kept its 2026 capital-expenditure forecast at $220 billion, and reported a second straight quarter of negative free cash flow that widened from the prior period.
AI spending has become the market's main pressure point as investors question when heavy outlays by tech giants will translate into returns.
Alphabet already dropped 13% on Thursday after reporting ballooning negative free cash flow, while Microsoft rose after staying cash-flow positive in the September quarter.