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US tech stocks fell sharply on Friday, with the Nasdaq 100 down 2.6% and on pace for a roughly $1 trillion decline. Amazon shares dropped about two percent despite strong cloud earnings, as investors focused instead on its 2026 capital expenditure plans of $220 billion tied largely to AI. The slide followed Alphabet's historic 12.6% single-day plunge on Thursday, which wiped out over $500 billion in market value.
The fourth-generation Nest Learning Thermostat is discounted by $60 to $219.99 across Amazon, Best Buy and The Home Depot in all three colors, matching its best price this year and nearing its all-time low. The device includes a bundled remote temperature sensor, an adaptive display, and broader HVAC compatibility than its predecessor.
Binance disclosed a hack resulting in losses of roughly $6.3 billion, described as the largest in crypto history, with some reports pointing to a state-backed actor. Separately, Nasdaq futures fell sharply after Amazon missed both earnings and revenue estimates despite strong AWS growth, and Intel issued weak fourth-quarter guidance citing a continuing PC market slowdown, sending its shares down about 25% premarket.
Amazon shares fell about 7% and Intel dropped roughly 25% in premarket trading after both companies reported September-quarter results that missed investor expectations. Amazon missed on revenue and profit while keeping its 2026 capital expenditure forecast at $220 billion and reporting a larger negative free cash flow for a second straight quarter. Intel gave weaker-than-expected guidance, citing continued softness in the PC market, while chip peers like Micron, Nvidia, Arm and ASML also declined.
Apple has launched its first smart display, the $299 HomeView, alongside Amazon's $499.99 Echo Show 16, a full redesign of its smart display lineup. Both devices were previewed hands-on by a reviewer who found them more capable than earlier smart displays at handling shared household tasks like calendars, video doorbells and smart home controls.
Amazon CEO Andy Jassy told investors on Thursday's earnings call that Prime Video has grown into a business with a revenue run rate in the tens of billions of dollars and is now profitable. Amazon MGM Studios has generated more than $1.2 billion in global box office this year, led by Project Hail Mary, while shows like Reacher and sports programming including Thursday Night Football have driven viewership gains.
Amazon's third-quarter net sales rose 12% to $201.9 billion, below the $202.2 billion analysts expected, with earnings per share of $1.89 versus a forecast $1.97. AWS was a standout, with sales of $45.98 billion and operating income nearly doubling to $17.8 billion, but free cash flow over the trailing 12 months turned negative $42.4 billion, a sharp reversal from positive $14.8 billion a year earlier. Amazon attributed the cash burn to heavy AI-related investment and reiterated plans for about $220 billion in capital expenditures for 2026.
Amazon Web Services reported third-quarter revenue of $45.98 billion, a 39% year-over-year increase that topped the $45.29 billion analysts had expected, according to the company's statement. Operating income for the segment rose 55% to $17.77 billion, also exceeding forecasts, and AWS now represents nearly 23% of Amazon's total revenue, a record share.
Amazon reported third-quarter net income topping $20 billion and its strongest cloud revenue growth in years, yet its stock dropped after the results missed Wall Street expectations. Free cash flow fell sharply during the quarter, which appeared to weigh on investor sentiment despite the strong profit and cloud numbers.
Amazon has discounted its 50-inch Ember 4-Series Fire TV to $309.99, down from its $399.99 list price, a 23% cut. The set is a 4K UHD smart TV with built-in Fire TV, HDR10, HLG and HDR10+ support, a direct-LED panel with 60 Hz refresh rate, and an included Alexa Voice Remote.
The EarFun Air Pro 4 wireless earbuds are now listed at $53.16 on Amazon, a $26 reduction from their $79.90 list price. The earbuds include adaptive noise cancellation, Bluetooth 5.4, multipoint pairing, wireless charging, and wide codec support including LDAC and aptX Lossless/Adaptive.
Amazon is selling Ring's newly released Battery Doorbell 2K at a $55 discount. The device records in 2K resolution with up to 6x zoom and a 140-by-140-degree field of view, and offers live view, two-way talk, and motion-triggered phone alerts. It runs on a USB-C rechargeable battery or can be hardwired to an existing 8-24 VAC doorbell system.