Key Highlights

  • Intel (NASDAQ:INTC) was quoted near USD 68.44, down 25.67%, in Friday premarket on October 30, 2026, after a Q4 Revenue guide of USD 15.0 billion to USD 16.0 billion, even though Q3 adjusted EPS of USD 0.52 beat the USD 0.40 estimate.
  • Amazon (NASDAQ:AMZN) was indicated 6.6% to 7.1% lower in Friday premarket after Q3 EPS of USD 1.89 missed the USD 1.96 estimate, with Q3 capex of USD 77.3 billion against USD 35.1 billion a year earlier.
  • Alphabet (NASDAQ:GOOGL) closed down about 12.7% at USD 283.70 on October 29, 2026 after Q3 EPS of USD 2.12 missed, with consensus quoted at USD 2.94, USD 3.01 and USD 3.02 depending on the page.
  • Invesco QQQ Trust (NASDAQ:QQQ) was down 2.38% in Friday premarket, while Nasdaq-100 futures were down about 2.5% and S&P 500 futures about 1%, snapshots that can change at the 9:30 a.m. ET open.

Intel (NASDAQ:INTC): Q4 guide below estimates

Intel (NASDAQ:INTC) reported results after the close on October 29, 2026. Q3 adjusted EPS was USD 0.52 against a USD 0.40 estimate, and revenue was USD 16.5 billion, up 21% year over year. Data Center revenue climbed nearly 80% to USD 7.3 billion. The problem sits in the forward numbers: the Q4 revenue guide of USD 15.0 billion to USD 16.0 billion and non-GAAP EPS guide of USD 0.25 fell short of expectations. Earlier estimates, as cited in several summaries, were about USD 17.1 billion and USD 0.43 to USD 0.44. The premarket quote of USD 68.44 compares with a prior close of about USD 92.07, a figure derived by simple arithmetic from the quoted decline. Markets price the next several quarters, not the one just finished. A guide below consensus resets those expectations, so a strong quarter can still trigger a sharp repricing when the outlook disappoints. The cause is reported to be sluggish PC demand, which comes from published market commentary rather than a company statement we could verify. The warning spread beyond one name: Dell fell about 10%, HP about 8%, and Hewlett Packard Enterprise and Super Micro about 5% to 6% in premarket. One earlier summary put the options-implied move near 8%, so a decline of roughly 25% is far outside what Derivatives traders had priced, a figure that rests on one account.

Amazon (NASDAQ:AMZN): EPS miss and USD 77.3 billion capex

Amazon (NASDAQ:AMZN) released Q3 results after the close on October 29, 2026. Net sales were USD 201.9 billion, and AWS grew 39% to USD 46.0 billion, with AWS Operating Income of USD 17.8 billion. EPS of USD 1.89 missed the USD 1.96 estimate. Net Income of USD 20.7 billion fell year over year because the year-ago quarter included USD 9.5 billion of gains tied to Anthropic, according to the company release. That base effect explains part of the EPS shortfall without any single operating failure. The stock had already dropped 4.25% in Thursday's regular session before the report, so the premarket move adds to an existing slide. The sharper concern is the cost of growth. Q3 capex reached USD 77.3 billion, more than double the USD 35.1 billion of a year earlier, and 2026 capex is guided to about USD 220 billion. Heavy spending on data centers and chips lifts Depreciation later and absorbs cash now, which is why trailing free Cash Flow turned to an outflow of USD 42.4 billion from a USD 14.8 billion inflow. The Q4 sales guide of USD 240 billion to USD 247 billion brackets the roughly USD 244.2 billion expected, so the outlook is not weak on revenue.

Alphabet (NASDAQ:GOOGL): EPS miss and negative free cash flow

Alphabet (NASDAQ:GOOGL) reported Q3 results on October 29, 2026. EPS was USD 2.12, below every consensus figure we found, though those figures conflict at USD 2.94, USD 3.01 and USD 3.02. Revenue of USD 127.58 billion compared with about USD 127.9 billion expected, a small shortfall. Google Cloud revenue was USD 30.7 billion. Search and Advertising growth fell short of hopes, and free cash flow was negative. The share price closed at USD 283.70, down about 12.7%. Because the consensus EPS varies by source, the precise size of the miss should be treated as uncertain until a primary filing is checked. The remaining figures come from published market data and need checking against the filing. Search and advertising are the profit engine, so softer growth there matters more than strength in cloud. Negative free cash flow adds a second concern, because heavy spending on data centers absorbs cash before it produces revenue. One summary says roughly USD 500 billion of Market Value was erased and that it was the worst day in over 20 years. The stock being negative for 2026 shows how much the rally has unwound.

Invesco QQQ Trust (NASDAQ:QQQ): index fund tracking the damage

Friday's premarket picture is a second straight tech-led decline. Nasdaq futures were quoted at 28,779.50, down 2.65%, S&P 500 futures at 7,667.50, down 1.12%, and Dow futures at 52,445, down 0.13%. Russell 2000 futures fell 0.5% to 0.7%, to 2,847.70 on one page. Other pages show S&P 500 futures 0.94% to 1.05% lower and Nasdaq-100 futures 2.1% to 2.52% lower, so the exact levels depend on the time of the snapshot. Invesco QQQ Trust (NASDAQ:QQQ) was down 2.38% in premarket trading, and the flat Dow shows the weakness is concentrated in large technology names. These ranges matter because futures trade nearly around the clock, and each page captured a different minute of the premarket session. Results from Amazon and Intel after Thursday's close set the tone. Intel fell about 25% on a weak Q4 guide and Amazon about 7% on an EPS miss and heavy capex plans. Alphabet had already closed 12.7% lower on Thursday. SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down less.

Where Things Stand

The answer is that three heavyweight reports landed within a day and each lowered expectations. Intel (NASDAQ:INTC) guided Q4 below estimates, Amazon missed EPS while planning very heavy capex, and Alphabet missed EPS with negative free cash flow. Invesco QQQ Trust (NASDAQ:QQQ) carries large weights in such names, so the fund slid about 2.4% in premarket while the Dow was nearly flat. These are snapshots, and the 9:30 a.m. ET open is the next test. This is not Investment advice.