The Nasdaq Composite dropped more than 3% on Friday, marking its worst single-day loss since June, driven by heavy selling of AI-related stocks and disappointing tech earnings. Concerns grew after reports that Anthropic may not receive an investment-grade rating post-IPO, adding to pressure from Alphabet's poor quarterly results and negative free cash flow. Investors are also wary of spending and debt issues among major cloud companies, with weak technical indicators suggesting further downside risk. The index is trading below key support levels, indicating a bearish outlook unless it recovers above certain resistance points.
As of Oct 31, 2026 02:31 WIB, Alphabet Inc Class A (GOOGL) shares are trading at USD 277.89 on Pluang, down 2.09% in the last day. Despite the recent tech sector sell-off highlighted in the news, Pluang data shows a majority of investors still buying GOOGL with 63% buy orders versus 37% sell. The stock's market cap stands at $3.48 trillion, reflecting its significant weight in the tech sector.
AI optics stocks including Applied Optoelectronics, Coherent, Lumentum, and Marvell fell between 10% and 15% following concerns about hyperscaler spending after Google's market value dropped by over $500 billion due to higher-than-expected cash burn....
In October 2026, tech stocks faced significant declines, with Intel dropping 43.5% and Alphabet down 18.5%. Despite these losses, the S&P 500 index only fell 0.5% because 75% of its large-cap stocks showed gains during the month. This suggests underl...
Microsoft's Azure cloud grew 48% and Amazon's AWS grew 39%, their fastest in years, driven by high demand exceeding supply. Microsoft showed strong earnings and free cash flow, while Amazon missed estimates due to retail timing but posted record AWS ...
Reddit reported strong Q3 2026 earnings with revenue up 53% and net income rising 74%, beating analyst expectations. However, its stock fell 25% as CEO Steve Huffman warned that Google's AI-powered search is reducing Reddit's referral traffic, potent...
Reddit's CEO Steve Huffman revealed a significant drop in search referral traffic, losing over 1 million weekly visits due to Google's AI search features. To counter this, Reddit plans to test a logged-in-only experience in select non-U.S. markets in...
