Tech Hit in Late Hours as Alphabet, AMD Tumble: Markets Wrap
- Google falls after disappointing cloud sales drag on revenue
- AMD’s data center sales miss estimates in sign of AI slowdown
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Technology shares got hit in late hours as Alphabet Inc. and Advanced Micro Devices Inc.’s quarterly figures failed to inspire.
A $329 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) slipped after the close of regular trading. Alphabet lost 7% as its revenue missed expectations after growth in the cloud business slowed. AMD slid 5% as disappointing results for its data center division signaled the company is not making gains on Nvidia Corp. in artificial-intelligence computing.