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● Intel's weak outlook and Amazon's spending plans triggered the chip selloff.
● Fiscal second-quarter revenue guidance is $12.2 billion to $12.6 billion.
● NetLeveragestood at 2.8 times after the $1.1 billion Epiq Solutions purchase.
● Backlog reached $406 million, up 166% year over year.
● Fiscal first-quarterRevenuerose 55% to $4.38 billion with a 57.8%GAAPgross margin.
● Optical and AI networking stocks are sliding on AI spending fears.
● Chip-equipment stocks are under pressure worldwide after Intel's weak outlook.
● AMD has no major company announcement; the move is a sector selloff.
● Intel warned PC chip sales would fall more than 20% sequentially this quarter.
● Alphabet spent a record $51.4 billion on capex in the third quarter.
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