US tech stocks tumbled in after-hours trading after some of the industry’s biggest companies reported disappointing results, undermining wagers that this year’s $5.5 trillion selloff had reached bottom.
Investors are facing a make-or-break week for some of Wall Street’s most influential tech stocks in a historic year for the group marked by a plunge into bear market territory.
Apple Inc shares buckled after a rare analyst downgrade exacerbated another wave of selling pressure that wiped out hundreds of billions of dollars in market value from the largest US technology stocks.
Alphabet Inc’s Google pays billions of dollars each year to Apple Inc, Samsung Electronics Co and other telecom giants to illegally maintain its spot as the No. 1 search engine, the US Justice Department told a federal judge Thursday.
Earnings reports from the biggest technology companies show that the group is navigating the tough economic environment better than smaller rivals, fueling a rebound in stock prices and encouraging investors about the outlook for the second half.
Meta Platforms Inc, the social media giant that includes Facebook and Instagram, reported its first-ever quarterly sales decline, citing advertisers’ shrinking budgets.
Alphabet Inc, Microsoft Corp and Texas Instruments Inc posted double-digit quarterly revenue growth on Tuesday and expressed optimism about the coming months, reassuring investors who had been fretting that the technology industry was poised for a dour...