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Investors have their eyes on Wall Street, and their ears were on the line this week for a series of conference calls involving some of the biggest names in technology for the first round of the year. We have a big financial report.
Microsoft (Nasdaq: MSFT) led the indictment because it reported fiscal second quarter results. The initial reaction was positive, but then investors began questioning Microsoft’s (MSFT) prospects.
Meanwhile, CEO Satya Nadella has called artificial intelligence the “next platform wave” of business, raising doubts about where at least some of Microsoft’s (MSFT’s) attention will go in the future. No room. Nadella’s comments come a day after Microsoft (MSFT) announced it had invested “billions of dollars” in his ChatGPT developer OpenAI.
Microsoft’s (MSFT) report brought uncertainty around other cloud software companies such as Adobe (ADBE) and Salesforce (CRM).
Meanwhile, Salesforce (CRM) has added three new independent directors as part of an effort to take on activist investor Elliott Management.
Intel (NASDAQ: INTC) ended the week on a bad note as its stock plummeted after disappointing quarterly reports and what can only be described as outlook. Industry analysts cited a “surprising” deterioration in the semiconductor giant’s business.
Other chip stocks caught up with Intel’s (INTC) loss as rivals such as Advanced Micro Devices (AMD) and NVIDIA (NVDA) gained momentum following Intel’s (INTC) result.
IBM (IBM) also reported its latest quarterly results, with Chief Executive Arvind Krishna highlighting details about the technology services giant’s “confidence” in its hybrid cloud and AI strategy. bottom.
Elsewhere in the chip sector, Apple (NASDAQ: AAPL) developed its own Wi-Fi chip and put the brakes on plans to ditch Broadcom’s similar chip.
Texas Instruments (TXN) also took it on the chin after the analog communications chip maker showed disappointing business prospects.
Chip equipment maker Teradyne (TER) also slipped in the rankings as its sales outlook weakened.
Two of the country’s largest telecommunications and mobile operators also stepped up to the bottom line. AT&T (T)’s stock hit a six-month high after the company reported better-than-expected earnings and delivered free cash flow in line with analyst expectations.
Verizon (VZ) shares were broadly flat amid concerns about the company’s 2023 outlook after reporting quarterly results in line with Wall Street analyst expectations.
Elon Musk, who has been relatively quiet since the beginning of the year, has made several Twitter-related headlines, denying reports that he is looking to raise $3 billion to pay off Twitter’s (TWTR) debt.
With the 2023 Academy Award nominations announced, this year’s nods mark a dramatic drop in film nominations from major streaming companies such as Netflix (NFLX), Amazon (AMZN) and Apple (AAPL). increase.
And more from former President Donald Trump, as Meta Platforms (META) said it would reinstate Trump’s Facebook and Instagram accounts a little over two years after suspending him from its social media platforms. You may hear about
