U.S. stocks fell Friday as investors weighed major technology companies’ spending and outlook, with the Nasdaq down 2.6% at 12:30 p.m. ET, the Associated Press reported.
AP said the Nasdaq was nearing its weakest daily performance since June. The S&P 500 was 1.6% lower, while the Dow Jones Industrial Average fell 359 points, or 0.7%. In a separate sector reading, Reuters noted gains for consumer-staples and health-care indexes alongside losses in technology.
Intel reported third-quarter revenue of $16.5 billion, up 21% from a year earlier, with diluted earnings per share of $0.60. Data Center and AI revenue climbed 78% to $7.3 billion, while the Client Computing and Physical AI Group posted $8.1 billion, down 5%.
For the fourth quarter, Intel forecast revenue of $15 billion to $16 billion and diluted earnings per share of $0.10 under generally accepted accounting principles (GAAP), or $0.25 on a non-GAAP basis. Reuters said the revenue range was below the $17.07 billion analyst average, and the $0.25 non-GAAP earnings-per-share forecast was below the $0.43 estimate. Reuters also reported that Intel CFO David Zinsner did not expect the company to generate positive cash flow in 2026 amid its manufacturing expansion.
Amazon’s third-quarter sales rose 12% to $201.9 billion, while Amazon Web Services (AWS) revenue grew 39.3% to $46 billion. Net income was $20.7 billion, down from $21.2 billion in the third quarter a year earlier. The Associated Press said the profit result fell short of analysts’ expectations.
Amazon’s earnings release showed a $42.4 billion free-cash-flow outflow over the 12 months ended Sept. 30, 2026, compared with a $14.8 billion inflow in the prior-year period. Amazon linked the shift mainly to a $94.8 billion year-over-year increase in net purchases of property and equipment, primarily for AI investment. It continued to expect cash capital expenditures of about $220 billion in 2026.
Amazon President and CEO Andy Jassy said, “Our AWS investment in functionality and infrastructure is working.”
