Big tech's massive capital spending plans to build AI-era data centers take center stage. A major chipmaker warns of softer sales and component pressures weighing on smartphone demand. A leading beauty company trims forecasts and sees shares slip amid weaker growth.
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insights INSIGHT
Alphabet's Massive AI Infrastructure Bet
Alphabet plans to spend up to $185 billion in capital expenditures this year, signaling a major AI infrastructure push.
Strong search and cloud growth underpin the company's confidence to scale data centers and AI capabilities.
insights INSIGHT
Qualcomm's Chip Shortage Headwinds
Qualcomm warned of a lackluster near-term revenue outlook tied to memory chip shortages and higher costs.
The handset market's caution is pushing Qualcomm to diversify into autos, PCs and data-center chips.
insights INSIGHT
Estee Lauder Falls Short Of Expectations
Estee Lauder raised guidance but its midpoint fell short of Street expectations, prompting a sharp pre-market drop.
The company forecasts only 1%–3% organic net sales growth, signaling a slower recovery than investors hoped.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers: - Alphabet (GOOG) topped projections for quarterly revenue and outlined an ambitious capital spending plan, far surpassing predictions, leveraging its growth to build out the data centers and infrastructure needed to lead in the AI age. Google’s parent company said capital expenditures will reach as much as $185 billion this year, compared with the $119.5 billion analysts expected. Fourth-quarter sales, excluding partner payouts, were $97.23 billion, surpassing the $95.2 billion average estimate, according to data compiled by Bloomberg. - Qualcomm (QCOM) the largest maker of smartphone processors, gave a lackluster revenue forecast for the current period, stoking concern that component shortages will hurt consumer demand by driving prices up. The shares dropped in extended trading.Sales will be $10.2 billion to $11 billion in the second quarter, which runs through March, the company said Wednesday in a statement. Profit will be about $2.55 a share, excluding certain items. Analysts, on average, estimated revenue of $11.2 billion and earnings of $2.89 a share, according to data compiled by Bloomberg. - Estee Lauder (EL) shares are down as the beauty company’s new annual forecasts come in below the consensus estimates at the midpoint of the projected range. The stock has climbed 14% year to date, outperforming the large-cap staple index’s 12% gain, and the S&P 500’s 0.5% advance.
Stock Movers