Alphabet, Microsoft, Amazon and Snap Stocks Decline in Sympathy

Tiger Newspress04-25

Meta Platforms Inc.'s earnings, which are sending the stock down more than 13% in premarket trading Thursday, reflected a number of factors specific to the company.

For example, there's Meta's heavy spending push, directed toward areas like artificial-intelligence hardware and the company's metaverse ambitions. And then there's simply that Meta faced high expectations heading into the report as its stock gains grew and estimates rose.

That said, even though Meta beat revenue expectations for the latest quarter and essentially matched expectations with its outlook, shares of internet peers are dropping in Wednesday's after-hours action.

Shares of Snap Inc. are off 4.4%, while shares of Alphabet Inc are off about 3%, Microsoft and Amazon fell about 2%, Pinterest dropped 5.9%.

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