Amazon and Intel Misses Drag Nasdaq Futures Down 2%
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Amazon and Intel both reported September-quarter numbers that fell short of what investors wanted, and the reaction arrived before the opening bell. Nasdaq 100 futures fell about 2% in early Friday trading, with S&P 500 futures down roughly 1%, according to CNBC. Amazon shares dropped 7% premarket; Intel shares about 25%.
The pair had been on a crowded after-hours slate the night before, one that Crypto Briefing flagged as carrying a lot of market-moving information in a single evening. Coinbase, Reddit, Sandisk and Strategy also reported Thursday night, alongside more than 300 companies reporting that day.
Key facts
- Nasdaq 100 futures dropped about 2% early Friday, S&P 500 futures slid roughly 1%, and Dow futures held close to flat at 52,489, CoinCentral reported.
- Amazon fell between 6.5% and 7% in premarket trade on weak online retail results, even though its cloud unit posted solid numbers, per CoinCentral.
- Intel dropped about 25% to 26% after soft third-quarter sales and fourth-quarter guidance that came in below expectations, with the PC segment weighing on results.
- Amazon reported a top- and bottom-line miss and kept its 2026 capital expenditure forecast at $220 billion, with negative free cash flow for a second straight quarter, CNBC reported.
- Alphabet closed 13% lower on Thursday, its worst single-day decline in history, losing about $497 billion in market value, according to CNBC and CoinCentral.
Cloud holds, retail and PCs do not
Crypto Briefing’s preview had put the spotlight on Amazon Web Services, forecasting $45.7 billion in revenue, 38% higher than a year earlier, alongside earnings per share of $1.96 to $1.97 on roughly $202 billion in total revenue. CoinCentral reported that AWS did post solid numbers — but those figures did not offset the weaker retail performance. Amazon’s annual 10-K showed revenue of $716.9 billion and net income of $77.67 billion for the fiscal year ended Dec. 31, 2025.
Intel’s case was softer demand rather than a cloud story. CoinCentral reported that AI-related revenue still rose sharply in the quarter, but the chip maker’s guidance and PC segment dragged the stock down. Chip names including Micron, Nvidia and Arm were lower premarket, and European semiconductor companies such as ASML fell sharply, CNBC reported.
Coinbase reported the same night and the outcome differed from Crypto Briefing’s preview, which expected revenue of $1.22 billion to $1.24 billion and non-GAAP earnings per share close to breakeven with a slight negative return. CoinCentral instead carried a headline that Coinbase posted a surprise third-quarter profit — and that its stock nonetheless slid.
Why it matters
The selling is about how much Big Tech is spending on artificial intelligence and whether that spending pays off. Amazon’s negative free cash flow, and Alphabet’s before it, put that question at the centre of the week’s earnings, while Microsoft shares rose after it stayed cash flow positive, CNBC reported. Matt Orton of Raymond James told CNBC the moment calls for investors to consider how crowded positioning remains even with strong fundamentals. For crypto investors, Coinbase and Strategy — both on Thursday’s after-hours schedule — are the names that transmit the tech risk-off mood into digital-asset markets.
The two reports on Amazon’s premarket move differ slightly in size: CoinCentral gave a range of 6.5% to 7%, while CNBC stated 7%. Oil also moved higher, with Brent crude at $112 a barrel and WTI at $103, per CoinCentral.
What to watch
ExxonMobil, Chevron, AbbVie and AstraZeneca were scheduled to report before Friday’s open, per CoinCentral. Whether the Nasdaq-100 closes the week in negative territory is the other number to watch, CNBC noted.
This article is not financial advice. Stock and crypto markets are volatile and uncertain, and prices can move sharply in either direction.
Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.
Sources: Crypto Briefing, CoinCentral, CNBC
