01/11/2024 -Gloomy Outlook for Big Tech

01/11/2024 -Gloomy Outlook for Big Tech



1. Meta (META.US) held its Q3 earnings call. The company’s CEO stated that capital expenditures for the fourth quarter are expected to increase compared to the third quarter, partly due to increased spending on servers and data centers.

Trump Media & Technology Group (DJT) stock plummeted 22%.


3. Intel and Amazon released their Q3 earnings reports, showing that revenue exceeded analysts' expectations, but earnings per share fell short of forecasts. Their stock prices rose 8% and 5%, respectively.

4. Roblox (RBLX.US) reported third-quarter bookings that exceeded analysts’ expectations, reaching $1.1 billion, up 34% year-over-year.

5. Based on experience, the resignation of an auditing firm is a serious signal. SMIC (O) faces the possibility of suspension or delisting as the worst-case scenario.

6. JPMorgan Chase has agreed to pay $100 million to settle charges by the U.S. Securities and Exchange Commission (SEC).

7. Uber reported record-breaking quarterly results, with strong growth and substantial profitability, achieving over $1 billion in GAAP operating profit for the first time in history. However, the company faces rising commercial insurance costs for its U.S. ride-hailing business, causing the stock to drop by 9%.

8。 eBay Inc. (EBAY) reported strong financial results for Q3 2024, with a focus on consumer-to-consumer (C2C) sales and AI enhancements.