Earnings
Meta shares fell about 9% after second-quarter earnings missed expectations and free cash flow dropped sharply, as rising AI infrastructure spending overshadowed record revenue and continued strength in advertising.
Earnings
Microsoft shares surged after Azure growth accelerated to 43%, annual Azure revenue crossed $100 billion, and quarterly capital spending came in below expectations, easing concerns about returns on the company's expanding AI infrastructure investments.
Earnings
Qualcomm faces weaker handset economics, higher costs and a faster Apple modem transition, while Arm’s AI data center business expands. The contrasting earnings highlight shifting semiconductor growth toward automotive, cloud and AI infrastructure.
Innovation & Tech
DoorDash received FAA certification to operate commercial drone deliveries and plans to launch DoorDash Air in fall 2026, expanding its autonomous delivery network with internally developed aircraft alongside human couriers, robots, and existing drone partners.
Earnings
Vertiv posted 24% revenue growth and stronger-than-expected Q2 earnings, but shares fell sharply after sales missed estimates. Management blamed project timing and supply chain congestion while raising its full-year outlook as AI infrastructure demand remained strong.
Earnings
Seagate beat fiscal Q4 estimates and issued stronger-than-expected Q1 guidance as AI and cloud demand lifted storage revenue, pricing, margins, and cash flow. HAMR adoption and long-term customer commitments added visibility into fiscal 2027.
Earnings
PayPal topped second-quarter expectations and raised its 2026 earnings outlook as Venmo, Braintree and financial services gained momentum. Higher expenses and slow branded checkout growth show the turnaround remains a work in progress.
Price Action
Apple briefly crossed a $5 trillion valuation as strong iPhone demand and limited AI infrastructure spending supported shares, even as elevated valuation, memory costs and potential price increases raised questions about future growth.
Earnings
Corning (GLW) delivered stronger second-quarter earnings and core sales, powered by AI-related optical demand, but shares sank as production constraints and softer consumer electronics demand tempered the near-term revenue outlook.
Innovation & Tech
SpaceX hit a new post-IPO low despite a successful Starship test, as investors focused on its elevated valuation, upcoming earnings, insider lockup expirations, and the growing importance of Starship to the company's future operations.
Innovation & Tech
D-Wave's expanded AT&T partnership sent quantum stocks higher after its technology cut one network optimization workload from about an hour to under 15 seconds, giving the sector a concrete example of enterprise adoption.
Innovation & Tech
Nvidia's expanding AI partnerships strengthen its infrastructure pipeline, but a potential $250 billion OpenAI financing backstop is raising questions about how much future demand could depend on Nvidia-supported funding.