Stocks kick off November lower as AI sell-off hits Tech

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• Dow Jones Futures: AI Trade Dives As Marvell, Lumentum Plunge; Apple Slides On Earnings With Midterm Elections Next

  The AI trade fell sharply on Monday, while Apple shares dropped after it reported earnings late. The midterm elections take place on Tuesday.

  Yahoo Finance·02/11, 21:53▼ AAPL▼ NVDA▼ QQQAAPLNVDAQQQ
• Nvidia Flashes Sell Signals As Earnings Loom; Is Nvidia A Buy Now?

  Nvidia stock fell below its 200-day moving average as of Monday. The AI chip company has scheduled its third-quarter results for Nov. 17.

  Yahoo Finance·02/11, 21:47▼ NVDANVDAearningsartificial intelligence
• Chip stocks are suffering from a ‘crisis of confidence’ — but things aren’t as gloomy as they seem

  Investors are concerned about whether demand for chips will be sustained over time. However, one analyst points out that large technology companies are still spending heavily.

  MarketWatch·02/11, 20:30▼ NVDAsemiconductorsNVDAAI investment
• Microsoft Corporation (MSFT) Delivers Strong Azure Growth as AI Demand Exceeds Supply

  Janus Henderson's Global Sustainable Equity Fund returned 1.86% in the third quarter of 2026, matching its benchmark and outperforming the IA Global peer group's 0.38%. In its investor letter, the fund highlighted Microsoft Corporation (NASDAQ:MSFT), where revenue rose 18% to $90 billion and Azure growth accelerated to 43% from 39%, with management forecasting around 45%. Copilot reached 30 million seats after adding 10 million in the quarter, and management committed to remaining free cash flow positive through fiscal 2027. The letter said demand for Azure continues to exceed supply. Over one month the stock fell 2.21%, closing at approximately $521.19 on October 29, 2026, with a market cap of about $3.82 trillion, and traded between $349.20 and $551.15 over the past 52 weeks.

  Yahoo Finance·02/11, 20:12▲ MSFT▲ NVDAMSFTNVDAcloud computing
• Tom Lee Calls Bottom on AI Stock Selloff, Citing Tight Supply and Crypto Resilience

  Fundstrat co-founder Tom Lee told CNBC the AI stock selloff has reached its bottom, arguing demand remains constrained by supply. He pointed to crypto's limited reaction to the Binance hack, initially estimated at about $6.3 billion, as a sign that many sellers have already exited. Despite strong AI demand, Intel shares plunged nearly 30% to $65.76 after a weak fourth-quarter forecast, due to manufacturing constraints and a weaker PC business. Bitcoin fell about 4% to roughly $76,400, and U.S. spot Bitcoin ETFs saw $643.2 million in outflows that day. Binance said about $3 billion of the affected assets had been frozen.

  Decrypt·02/11, 19:46▲ NVDA▲ BTC/USDT▲ ETH/USDT▲ QQQcryptobitcoinartificial intelligence
• Why Marvell Technology Plunged Today

  Marvell Technology (MRVL) shares fell 10% by 12:54 p.m. EDT after the company agreed to buy optical laser maker Lumentum (LITE) in an all-stock deal valuing it at roughly $115 billion, a 24% premium. Investors worried Marvell may be paying a steep price, since Lumentum's stock had already risen sharply over two years and the purchase price was more than five times its share price a year earlier. The article says Marvell is drawn to Lumentum's indium phosphide laser technology, which could be combined with Marvell's digital signal processors and connectivity for next-generation AI systems as co-packaged optics spread inside server racks. It also notes AI stocks are volatile and have recovered from past selloffs, while investors fear the upcoming midterm elections.

  Yahoo Finance·02/11, 19:45▼ NVDAmergers and acquisitionsMRVLLITE

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• Stock Market Today, Nov. 2: Rivian Rallies on UBS Upgrade and Solid R2 Demand Outlook

  Rivian Automotive (RIVN) closed up 8.47% at $13.19 on Nov. 2, with trading volume of 64.3 million shares, about 165% above its three-month average of 24.3 million. UBS upgraded the stock to Buy from Neutral/Hold, kept its $17 target, and said the recent sell-off was overdone ahead of the R2 ramp, also expecting solid early R2 demand and a positive automotive gross margin percentage as Rivian exits 2026. Rivian's third-quarter revenue rose 38% year over year to $2.2 billion, with gross profit of $176 million, up $152 million, and the budget R2 became its best-selling vehicle by volume in the quarter. Its Volkswagen joint venture received a $1 billion term loan in October. The same day, the S&P 500 fell 0.50% to 7,542 and the Nasdaq Composite dropped 1.07% to 25,164, while Rivian has fallen 87% since its 2021 IPO.

  Yahoo Finance·02/11, 22:37Rivianelectric vehiclesUBS
• Apple posts stronger-than-expected Q4 revenue in first earnings report for new CEO John Ternus

  Apple reported fiscal fourth-quarter revenue above expectations, giving new CEO John Ternus, whose tenure began in September, a positive start, while several tech peers including Alphabet, Amazon and Intel posted disappointing results. The company earned $30.71 billion, or $2.10 per share, in the July–September period, up 12% from $27.47 billion, or $1.85 per share, a year earlier, including 5 cents per share from tariff refunds. Revenue rose 12% to $114.5 billion from $102.5 billion, beating analysts' average forecast of $1.99 per share on $113.4 billion in revenue, according to FactSet. Emarketer analyst Jacob Bourne said record iPhone revenue and strong growth in China show the resilience of Apple's business, and that its cautious approach to AI infrastructure spending helps preserve cash flow, while partnerships with Alphabet could strengthen its AI capabilities without the same financial risks as peers. Shares were flat in after-hours trading, after closing down 1.8% at $338.32 in regular trading.

  Yahoo Finance·02/11, 22:31▲ AAPLAAPLearningsJohn Ternus
• Why Franklin Electric Stock Raced 5% Higher on Monday

  Franklin Electric (FELE) shares rose more than 5% on Monday after DA Davidson analyst Matt Summerville upgraded the stock to Buy from Neutral and raised his price target to $135 from $105. Summerville pointed to the company's growing exposure to high-growth areas, including new products for data center infrastructure and critical minerals, and said its distribution business could lift segment margins and revenue growth. He also highlighted Franklin's relatively clean balance sheet. The author agrees the company is an under-the-radar beneficiary of hot industries, but notes that its core markets, which make up most of its business, remain vulnerable to rising interest rates and construction-industry downcycles.

  Yahoo Finance·02/11, 22:30data centersinterest ratesconstruction
• Micron Technology: Is This a Sign That Its Stock Has Already Peaked?

  Micron Technology (MU) shares fell 5.78%, after an earlier rally driven by strong memory demand and the company's ability to raise prices; the stock crossed a $1 trillion market cap earlier this year but now trades near $940 billion. Its 30-day average trading volume has fallen significantly since peaking around late June, which the author cites as a sign that interest in the stock has faded. The stock's earnings multiple of 11 looks low, but the author argues it is skewed by very strong recent results, and that more supply could come online sooner than expected. With the stock up more than 1,000% over five years, some investors may simply want to cash out before it's too late, and the author says he would not buy Micron at this stage given the risks of cyclical stocks.

  Yahoo Finance·02/11, 22:27Micronsemiconductorsvaluation
• Apple Q4 earnings call: Ternus breaks down 'excellent quarter'

  Apple CEO John Ternus said total company revenue set records for the September quarter and the full fiscal year. iPhone revenue reached $57.6 billion, up 17% from a year earlier despite supply constraints and foreign exchange headwinds, marking a September-quarter record and the company's best fiscal year ever for iPhone. Services, Apple's second-largest segment, posted an all-time record in the quarter and closed out its best year ever. Apple grew in most of the markets it tracks, setting September-quarter records in the Americas, Europe, Greater China and the rest of Asia Pacific, along with an all-time record in India, and it also set a record for upgraders worldwide.

  Yahoo Finance·02/11, 22:27▲ AAPLAAPLearningsiPhone
• Why Wingstop Stock Keeps Going Up

  Wingstop shares (WING) rose nearly 9% on Monday, extending their post-earnings gains after the company reported third-quarter results on Oct. 28. Revenue rose 5.3% year over year to $185 million on new store openings, with 76 net new stores bringing the total to 3,331 locations as of Sept. 26, including 2,787 in the U.S. and 544 franchised international locations. However, domestic same-store sales fell 5.4% as consumers pulled back on dining out amid rising gas prices and other costs, and the company lowered its full-year same-store sales forecast to a decline of 6.5% to 7%. Adjusted net income was $29.3 million, or $1.08 per share, above Wall Street's estimate of $1.02. CEO Michael Skipworth said the Club Wingstop loyalty program is helping to draw guests back, and the company plans to open as many as 450 net stores in 2026 while working toward more than 10,000 restaurants globally.

  Yahoo Finance·02/11, 22:25earningsrestaurantsfuel prices