Nvidia will remain the gold standard for AI training chips, CEO Jensen Huang told investors, even as rivals push to cut into his market share and one of Nvidia’s major suppliers gave a subdued forecast for AI chip sales. Everyone from OpenAI to Elon Musk’s Tesla rely on Nvidia semiconductors to run their large language […]
Memory-chip maker Micron Technology (MU) late Wednesday handily beat Wall Street’s targets for its fiscal third quarter. But it disappointed investors with its in-line guidance for the current quarter. Micron stock fell in extended trading. ↑ X NOW PLAYING How These Selling Strategies Can Prevent Major Damage To Your Portfolio The Boise, Idaho-based company earned […]
(Bloomberg) — Palo Alto Networks Inc. slid in late trading after giving a downbeat forecast for the current period, renewing concerns about a slowdown in cybersecurity services. Most Read from Bloomberg Revenue in the fiscal fourth quarter will be $2.15 billion to $2.17 billion, the company said in a statement Monday. Analysts had anticipated a […]
By Jaspreet Singh (Reuters) -Applied Materials forecast third-quarter results above Wall Street estimates on Thursday, following strong demand for its semiconductor tools, but failed to meet lofty investor expectations. The company’s shares, which have rallied about 32% so far this year, fell about 1.2% in extended trading. Applied Materials has benefited from growing demand for […]
By Caroline Valetkevitch NEW YORK (Reuters) – Shares of Palantir Technologies fell 15.1% on Tuesday in their biggest daily percentage drop since May 2022, a day after the data analytics company gave a revenue forecast that disappointed. The stock closed at $21.40, while on Wall Street, action was more subdued, with the S&P 500 ending […]
Alphabet (GOOG, GOOGL) is set to release quarterly earnings after the bell on Thursday, continuing a big week for US tech giants coming off a punishing run on Wall Street. The company is expected to offer updates on the race to turn massive AI investments into new revenue streams and the state of the massive […]
Netflix (NFLX) reported first quarter earnings that beat across the board on Thursday with another 9 million-plus subscribers added in the quarter. However, disappointing second quarter revenue guidance dragged the stock more than 3% lower in after-hours trading. Subscriber additions of 9.3 million beat expectations of 4.8 million and follows the 13 million net additions […]
(Bloomberg) — Tesla Inc. had Wall Street analysts second-guessing their models as the first quarter came to a close. One after another reduced their estimate for vehicle deliveries. Most Read from Bloomberg They didn’t cut by nearly enough. The electric-car maker led by Elon Musk delivered just 386,810 vehicles in the first three months of […]
By Akash Sriram (Reuters) – GitLab shares fell 24% on Tuesday after the software developer forecast full-year 2025 revenue and profit below Wall Street estimates, citing a cautious spending environment due to an uncertain economy. Still, analysts and investors believe the forecast for fiscal year 2025 to be cautious and expect stable growth. “Given the […]
Shares of Baidu, the Chinese internet company that specializes in artificial-intelligence services, were falling early Wednesday after reporting disappointing results. Revenue for the fourth quarter was 34.95 billion yuan ($4.9 billion), a 6% increase from a year earlier. For 2023, revenue rose 9% to about $19 billion. Earnings per share grew 50% to 95 cents […]
Snap stock (SNAP) tanked on Wednesday, sinking more than 30% as investors digested another disappointing quarterly earnings report. The Snapchat parent company posted Q4 quarterly revenue of $1.36 billion, below Street estimates for $1.38 billion. The company has now missed revenue estimates on six of the last eight reports. And now, it says it expects to […]
SINGAPORE (AP) — Chinese e-commerce firm Alibaba Group Holding on Wednesday approved an additional $25 billion authorization to its share buyback program, amid lower-than-expected sales revenue for the last quarter of 2023. Alibaba posted a 5% increase in sales to 260.3 billion yuan ($36.67 billion) for its quarter ended December, slightly missing analyst estimates. Net […]