Amazon and Intel shares fell on Friday before the market opened after reporting September-quarter results that disappointed investors. Amazon dropped 7% and Intel plunged 25%, dragging Nasdaq futures down 2%. Amazon missed revenue and earnings estimates while maintaining its 2026 capital expenditure forecast at $220 billion. Its free cash flow was also negative for the second consecutive quarter, at a much larger deficit than in the previous quarter. Investors are concerned about the massive artificial intelligence spending by major technology companies and whether those investments will pay off.
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