Stock Market Today: Why Is the Nasdaq Falling; Dow Is Rising; Nvidia, ASML, TSMC, Micron, Super Micro, More Movers; Trump Trades; Treasury Yields

Category: Finance

Nasdaq, Dow Jones, and S&P 500 indexes are dropping as interest shifts to smaller companies over high-value technology firms. Donald Trump's comments on Taiwan and chip stocks are impacting the market. Tech sector faces significant decline, affecting major players like Apple, Microsoft, Amazon, and Tesla.

Keywords: Nasdaq, Dow Jones, S&P 500, Donald Trump, Taiwan, Chip stocks, Tech sector

Source: Barron's

Update At: 7/17/2024

Related Sources

Microsoft earnings press release available on Investor Relations website

Microsoft announced its fiscal year 2025 second-quarter financial results, available on its Investor Relations website, and will host a conference call for further discussion.

Microsoft

MSFT Earnings: Microsoft Stock Falls on Weak Cloud Computing Growth - TipRanks.com

Microsoft's shares fell following the release of its fiscal second quarter results, which showed weak growth in its Azure cloud unit despite beating Wall Street forecasts. The company reported earnings per share of $3.23 and revenue of $69.63 billion, but Azure's growth slowed to 31%. Analysts are concerned about the impact of the new Chinese AI app, DeepSeek, on U.S. tech spending. Microsoft plans to invest $80 billion in AI infrastructure this fiscal year. The stock maintains a Strong Buy rating among analysts.

TipRanks

Should You Pick IBM Stock At $250?

IBM reported Q4 revenue of $17.6 billion and earnings of $3.92 per share, surpassing estimates. The growth was driven by strong demand for AI solutions and Red Hat products, despite declines in other segments. IBM stock surged over 8% post-results but is considered fully valued at around $250. The company anticipates at least 5% top-line growth and $13.5 billion in free cash flows by 2025.

Forbes

Why IBM Stock Was Up 14% Today

IBM's stock rose 13.6% after beating sales and earnings expectations, reporting $3.92 per share adjusted profit and $17.56 billion in sales for Q4 2024. Despite a 1% sales growth and a 13% decline in year-over-year earnings, CEO Arvind Krishna highlighted strong performance in generative AI and positive cash flow. However, concerns remain about the company's growth rate, with revenue expected to increase by only 5% this year.

Motley Fool

IBM Stock Jumps, Leads S&P 500 Gainers, on Results, Open-Source AI Strategy

IBM shares surged 13% following strong fourth-quarter results, with adjusted EPS of $3.92 and revenue of $17.55 billion. The company's generative AI business grew by nearly $2 billion quarter over quarter, reaching over $5 billion in total. CEO Arvind Krishna emphasized the scalability of IBM's AI products built on open source technology.

Investopedia

Apple (AAPL) Surpasses Q1 Earnings and Revenue Estimates

Apple reported quarterly earnings of $2.40 per share, exceeding estimates and showing a year-over-year increase. The company also posted revenues of $124.3 billion, surpassing expectations. Despite these results, Apple shares have underperformed the market this year, and the earnings outlook remains unfavorable, leading to a Zacks Rank #4 (Sell).

Yahoo News

Apple (AAPL) Q1 FY25 earnings results beat EPS and revenue estimates

Apple reported a record revenue of $124.3 billion for the latest financial quarter, surpassing expectations. Despite missing revenue targets for iPhones, the company's EPS of $2.40 exceeded analyst predictions. CEO Tim Cook highlighted the success of their product lineup and advancements in Apple Intelligence. However, Apple shares fell in after-hours trading following the earnings report.

Shacknews

AAPL Earnings: Apple Beats EPS Estimates but Continues to Lag in China - TipRanks.com

Apple's shares fell in after-hours trading despite beating earnings expectations for Q4 FY 2024, with EPS at $2.40 and revenue at $124.3 billion. iPhone sales were $69.14 billion, but concerns over declining shipments in China persist, with a 25% drop in Q4. Analysts maintain a Moderate Buy rating on AAPL stock, with a price target of $243 per share.

TipRanks

Compared to Estimates, Apple (AAPL) Q1 Earnings: A Look at Key Metrics

Apple reported a revenue of $124.3 billion for Q4 2024, a 4% increase year-over-year, with an EPS of $2.40. Key geographic revenues showed mixed results, with Greater China declining by 11.1% while Japan grew by 15.7%. Net sales for products and services also reflected positive growth, particularly in services with a 13.9% increase.

Yahoo Finance Australia

Revenue Department Releases January 2025 Collections | Department of Revenue | Commonwealth of Pennsylvania

Pennsylvania's General Fund revenue for January was $3.9 billion, falling short of estimates by $51.3 million. Year-to-date collections are at $24.1 billion, also below projections. Sales tax receipts exceeded estimates, while personal income tax and other revenues were below expectations. The Motor License Fund, however, performed well, exceeding estimates by $20.1 million.

PA Department of Revenue