The Nasdaq fell more than 2% on Friday as post-earnings declines in Amazon and Intel weighed, and is down 4.7% for October so far. Jim Cramer said he cannot justify selling Intel after its 28% drop on Friday, admitting he used poor judgment on the recent secondary offering, which CEO Lip-Bu Tan bought heavily into; Intel stock is still up nearly 80% year to date. He sees Amazon as a buy because things there are much better than they appear, and considers Starbucks a buy for its higher growth, with its drop of more than 2% possibly reflecting profit-taking after a strong run. FedEx Freight (FDXF) rose more than 13% after strong earnings, and Cramer views FedEx as a buy, though he may not chase its nearly 3% gain on Friday.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
Jim CramerIntelAmazonNasdaqearnings
Open a keyword to see other news on the same topic.
Related news
- Jim Cramer's top 10 things to watch in the stock market Friday
Nasdaq futures pointed to a drop of more than 2.5%, while Intel fell more than 25% premarket after weak guidance tied to high memory prices in its PC business, and Bank of America downgraded Intel to hold. Amazon fell nearly 7%, which the author calls excessive, as CEO Andy Jassy said AWS could grow north of 40% in each of the next two years. Alphabet had its worst day ever as Gemini lags behind leading AI chatbots. Baird raised its Starbucks price target to $120 from $115, Wells Fargo raised Centene's to $75 from $69, and AstraZeneca rose 6% after beating quarterly earnings and revenue. Marvell fell more than 13% in the prior session, while BofA removed Apple from its best ideas list but kept a $370 price target.
- BC-Most Active Stocks
AP's list of the most active Nasdaq stocks for Thursday, October 29, 2026 shows Inlif Ltd. leading with 176,870,090 shares traded, followed by Robin Energy Ltd. with 67,774,298 shares. Alphabet appears twice in the ranking, with 45,458,505 and 31,129,255 shares traded, while GOOG fell 12.01% and the Nasdaq Composite dropped 1.32%. Other heavily traded names include Intel, Amazon, NVIDIA and Microsoft.
- Investing.com’s stocks of the week
Alphabet plunged 12.6% on Thursday, its worst single-day performance, after third-quarter earnings fell short of expectations, and Citizens downgraded the stock to Market Perform. Intel fell 30.3% on Friday despite a third-quarter beat, as fourth-quarter revenue guidance of $15 billion to $16 billion came in below the $17.08 billion analysts expected; Bank of America downgraded it to Neutral. Amazon slipped 2.2% to $238.27 after missing on both revenue and profit, while ServiceNow and Fortinet fell 27% and 20.1% on Thursday. Coinbase dropped 13.4% on Friday to a more than two-year low, weighed by the Binance hack that saw $6.36 billion stolen, the largest crypto theft on record.
- Intel, Amazon, Nvidia, ExxonMobil, Sandisk, FedEx Freight, and More Stocks That Explain Today's Market
This roundup of stocks behind today's market moves highlights Intel, whose shares plunged after the chip maker issued underwhelming earnings guidance.
- Amazon and Intel Plunge After Disappointing Results, Fueling Wall Street's Nerves About AI Spending
Amazon shares fell about 3% and Intel plunged more than 25% on Friday as the Nasdaq Composite dropped over 2%. Amazon reported third-quarter revenue up 12% to $201.9 billion and AWS growth of 39%, but kept its roughly $220 billion capital-spending forecast for this year, pushing free cash flow for the 12 months to September to negative $42.4 billion. Intel's revenue rose 21% to $16.5 billion, driven by a 78% jump in its data center and AI business, but its forecast of $15 billion to $16 billion for the fourth quarter and continued PC weakness disappointed investors. Alphabet had fallen 13% on Thursday over heavy spending, while Microsoft remained free-cash-flow positive and avoided the initial selloff.
- Buy, Sell, or Hold? Today’s Top Upgrades and Downgrades: Boston Scientific, DoorDash, GE Vernova, Honeywell Aerospace, Incyte. Intel, Reddit, Rivian Automotive, and More
Tech stocks weighed on premarket futures on Friday, with Nasdaq futures down almost 2.5% after Alphabet posted its worst third-quarter results in years and closed Thursday down 12.64% at $283.82. Intel beat estimates, but its guidance disappointed; shares closed at $92.07 and were trading at $68.26 premarket, down almost 26%. Amazon closed down 4.25% and was 6.78% lower premarket, while SanDisk, which beat on both revenue and earnings and announced an 8-for-1 forward stock split, closed down 5.32% and fell a further 8.50% premarket. In analyst actions, DoorDash, GE Vernova, Incyte, Intel and Rivian Automotive were upgraded, while Boston Scientific, Honeywell Aerospace, Intel, Reddit and Stryker were downgraded. Nasdaq (NDAQ) was initiated with a Buy rating at Erste Group, without a price target.
Related markets
Latest news
- Anthropic turns profitable but could go back into losses: Seaport analyst
Seaport Research Partners analyst Jay Goldberg views Anthropic's operating profit of almost $1 billion as likely temporary. He said the company has warned it may be profitable in the next quarter or two before returning to losses, as it shifts from leasing computing capacity by the hour from Amazon to building its own compute, which it considers a key competitive advantage and will spend heavily on. Goldberg described the relationship with Amazon (AMZN) and Google (GOOG, GOOGL) as complex, since Anthropic is both a major customer, with a large share of Amazon's AI revenue coming from it, and a potential competitor. He does not think conclusions about Anthropic can be drawn from this week's tech market moves, citing interest rates and an ongoing war. Anthropic's computing bill is falling quickly, which is good news for now, but that is expected to reverse as it starts buying its own compute.
- Why GE Vernova Stock Fell on Friday
GE Vernova shares fell as much as 4.9% in Friday's trading despite strong third-quarter results, with revenue up 27% year over year and orders surging 96% organically, amid an AI infrastructure stock sell-off. Backlog rose $20 billion to a record $197 billion, and management expects it to top $200 billion in the fourth quarter. The company will acquire Trench Group for $9 billion, funding half the price with debt, and several analysts cut price targets, including TD Cowen to $1,125 from $1,235 and Jefferies to $1,100 from $1,185. The analysts are not bearish on the stock but are concerned about conversion timing and limits on margin expansion. Management raised full-year guidance, lifting free cash flow at the midpoint to $16.5 billion from $12 billion, and doubled its buyback authorization to $20 billion.
- Orezone Files Technical Report for the Casa Berardi Updated Life-of-Mine Plan
Orezone Gold has filed the NI 43-101 technical report supporting the updated Life-of-Mine Plan for its Casa Berardi mine in Quebec, Canada, which was previously announced on September 15, 2026. The report, a Preliminary Economic Assessment with an effective date of June 30, 2026, is available on SEDAR+ and the company's website. Orezone states there are no material differences between the report and the results disclosed in the earlier news release. The company notes that Casa Berardi, which it recently acquired, has produced over 3.2 million oz of gold to date.
- Evercore ISI downgrades Reddit, says monetization may not offset traffic weakness
Evercore ISI downgraded Reddit to In Line from Outperform and cut its price target to $120 from $265 after the company's third-quarter results beat estimates but warned of declining traffic due to AI search summaries. Analyst Mark Mahaney said U.S. daily active users fell 2% year over year, and management warned global daily active users could drop by a low-double-digit percentage in the fourth quarter from about 130 million if search-referral losses continue at October's pace. Revenue rose 53% to $895 million and adjusted EPS was $1.40, but fourth-quarter guidance had a midpoint of $1.015 billion, below the $1.05 billion Wall Street estimate, and shares fell more than 29% on Friday. Evercore still views monetization positively but is less confident that it can offset pressure on user growth.
- Intel Stock Suffers Worst Crash in 50 Years as Weak Forecast Overshadows AI Chip Demand
Intel shares plunged nearly 30% to $65.76 on Friday, wiping out more than $146 billion in market value in the worst single-day decline in over 50 years, after the chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion, below the $17.07 billion Wall Street expected. Its third-quarter results were strong, with revenue up 21% to $16.5 billion and Data Center and AI revenue reaching $7.3 billion, up 78%. However, Intel forecast adjusted EPS of $0.25 versus the $0.43 estimate and a non-GAAP gross margin of 38%, down from 44.1%, citing weak PC demand, server chip manufacturing constraints and an accident at an Israel factory. CFO Dave Zinsner called 2027 an investment year and warned that positive free cash flow is probably not likely next year, as Intel spends heavily on manufacturing expansion.
- Former SEC Chair: Broadcom's $63 Billion Package Feels Like "That 08 Off-Balance Sheet Craze"
Broadcom has put together a $63 billion package so Anthropic can buy its chips, and banks plan to sell as much as about $21 billion of high-grade bonds from it as soon as early next year. Former SEC Chair Gary Gensler compared the package to the off-balance-sheet deals of 2008 and raised concerns about guarantees written by Broadcom, NVIDIA and AMD. Broadcom provides residual value support on the $42 billion of senior debt, which costs it if the chips are worth less than what is owed. Anthropic is both Broadcom's growth driver and its credit risk, as its run-rate revenue passed $30 billion while its IPO filing showed steep losses. Broadcom trades at 20x forward earnings, near its three-year low, and the author says some of that risk is already reflected in the price.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.