Tech Earnings Disappoint Investors
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tech stock selloffQuartz
•Big Tech says its AI spending spree will pay off. Wall Street is worried
82% Informative
Some analysts are dubbing this the “show me the money” quarter as Wall Street’s patience with massive AI spending begins to wear thin.
Microsoft stock plunged 6% and Facebook parent Meta tumbled 4% after the companies reported earnings late Wednesday .
After-hours trading Thursday following their own earnings releases, Amazon dropped more than 3% and Apple fell 2% .
Wall Street’s message to Silicon Valley is getting clearer by the day .
The AI revolution is proving to be an increasingly expensive proposition with an uncertain timeline for returns.
Even for tech's strongest players, the AI revolution proves to be a costly proposition.
Bank of America : “We expect AI to transition from a tell me’ to a show me”.
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