Nasdaq Falls 0.6%; Alphabet Slides 7% While AMD Tumbles 10% After Earnings

Tiger Newspress2025-02-05

US Stocks fell Wednesday after mixed quarterly figures from Alphabet and chipmaker AMD led the tech sector lower. A decline in Apple also put pressure on futures.

Alphabet shares tumbled 7% after the Google-parent posted a cloud revenue miss as it ramps up spending on artificial intelligence, spooking investors who worried the megacap tech company will take longer to capitalize on its AI ambitions. Overall revenue for the period also came up short.

AMD shares were also lower by 10% after the company’s fourth-quarter data center revenue came up short of expectations.

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