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What changedAmazon missed analysts’ expectations on both revenue and earnings in its September quarter, CNBC reports. The company nevertheless maintained its capital expenditure forecast of $220bn for 2026, putting a fresh number beside investor questions about when heavy AI investment will pay off.
Amazon also reported negative free cash flow for a second consecutive quarter, with a larger outflow than in the previous period. That gives the spending debate a more concrete financial measure than share-price nerves alone, although the figures do not establish that AI investment is the cause of the cash-flow position.
Intel added to the pressure with weaker-than-expected guidance, citing continued softness in the PC market. The wider sell-off included chip companies such as Nvidia, Arm and ASML, while Nasdaq-100 futures fell 2% in early trading, according to CNBC.
Sources and evidence- Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earnings – CNBC: CNBC reports that Amazon missed third-quarter expectations, maintained its $220bn capital expenditure forecast for 2026 and recorded negative free cash flow for a second consecutive quarter; Intel also issued weaker-than-expected guidance.
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