Tech shares drop as weak earnings fuel fears over artificial intelligence
Technology stocks fell sharply on Friday following disappointing financial results from major American firms including Amazon and Intel.
FTMQ News, written by our newsroom0 views
Technology companies suffered significant market losses on Friday, 30 October 2026, following a series of disappointing quarterly earnings reports from major Wall Street firms. Euronews reported that the downturn was driven by growing investor concerns regarding heavy spending on artificial intelligence development. [1]
According to Euronews, Amazon posted quarterly profits and revenues that fell short of analyst forecasts. Intel also issued a weak earnings forecast, citing reduced demand for personal computer processors alongside ongoing supply chain disruptions. [1]
The latest drops follow results from Google parent company Alphabet, which reported slower revenue growth in its search and advertising divisions. Euronews reported that Alphabet plans to increase its capital expenditures. In after-hours trading, Alphabet shares dropped by more than 12 percent, while Amazon shares fell by over 7 percent. [1]
As FTMQ News reported earlier, Asian technology shares had previously surged on Wednesday following strong financial results from semiconductor manufacturer SK Hynix. That earlier rally was sustained by temporary optimism surrounding artificial intelligence investments ahead of the latest earnings releases from major United States firms. [2]
In short
- Amazon missed analyst expectations for both quarterly revenue and profit.
- Intel issued a lower earnings forecast due to weak personal computer processor demand and supply issues.
- Alphabet shares plunged over 12 percent in after-hours trading after reporting slower advertising revenue growth.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Tech firms take fresh hit as disappointing earnings fan AI fearsEuronews, 1h ago (the report this story comes from)
Background
- [2]Asian technology shares surge following strong SK Hynix earnings FTMQ News, 2d ago
Our newsroom writes these reports with the help of software, from the 2 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
Related from FTMQ News
Earlier reports of ours on the same people and subjects.
- Asian technology shares surge following strong SK Hynix earningsTop Stories, 2d ago
- Asian markets drop sharp as technology stock sell-off deepensTop Stories, 15d ago
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