Big Tech Slumps After Alphabet & Tesla Profits Disappoint 😕

[Muichiro.T]

The key indexes in the United States declined as the shares of Big Tech companies tumbled after the firms’ weak earnings reports of Tesla and Alphabet. S&P 500 lost 1 percent on average. 7%, The D0w Jones Industrial Average declined by 372 points, and the Nasdaq composite reduced by 2%. 5%. Tesla tumbled 11. 4% after the company announced that its profit was less than half of what it was a year ago at Alphabet. 3% despite surpassing analysts’ profit and sales forecasts due to slower growth in the ad revenue business line of YouTube. High profit estimates for the market’s most important technology stocks, which are known as the “Magnificent Seven,” are problematic for the market, although the stocks of the smaller companies have recently become strong with the help of the spare in Treasury yields. Of all these, only AT&T and Mattel’s stock value increased, while Visa and Lamb Weston’s experienced a decline. World markets were also down, with the Europe’s CAC 40 index declining because of weak LVMH sales.

 

[patotya]

It's been a turbulent day in the markets, especially with the significant declines seen in key indexes following weak earnings reports from Tesla and Alphabet. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all posted notable losses, reflecting investor concerns over the performance of tech giants.

 

[Tanjiro.Kamado]

The key indexes in the United States declined as the shares of Big Tech companies tumbled after the firms’ weak earnings reports of Tesla and Alphabet. S&P 500 lost 1 percent on average. 7%, The D0w Jones Industrial Average declined by 372 points, and the Nasdaq composite reduced by 2%. 5%. Tesla tumbled 11. 4% after the company announced that its profit was less than half of what it was a year ago at Alphabet. 3% despite surpassing analysts’ profit and sales forecasts due to slower growth in the ad revenue business line of YouTube. High profit estimates for the market’s most important technology stocks, which are known as the “Magnificent Seven,” are problematic for the market, although the stocks of the smaller companies have recently become strong with the help of the spare in Treasury yields. Of all these, only AT&T and Mattel’s stock value increased, while Visa and Lamb Weston’s experienced a decline. World markets were also down, with the Europe’s CAC 40 index declining because of weak LVMH sales.

It sounds like Big Tech's earnings reports really shook things up, especially with Tesla's huge drop and Alphabet's slower growth hurting the market. Thanks for the update—really appreciate the insight!