Shares of technology companies fell as traders downgraded expectations about AI profits.
Shares of Advanced Micro Devices tumbled as the chip maker's earnings could not keep up with investors' sky-high expectations for artificial-intelligence demand.
Palantir Technologies shares slid as investors mulled the implications of the AI analytics firm's Monday earnings report.
The Roundhill Magnificent Seven exchange-traded fund fell more than 1.5%, and has now failed to make a new high for more than three months. The seven largest U.S. tech stocks, which have led the stock market since the pandemic lows six years ago, have had deeper corrections during that phase, but this is one of their longest hiatuses.
Alphabet shares were volatile in late trading after the Google owner posted robust revenue growth but continued to increase capital-expenditure targets.
Texas Instruments agreed to buy wireless-technology company Silicon Labs in a deal with an enterprise value of about $7.5 billion, including cash and debt.
Uber Technologies slid after the ride-hailing giant's fourth-quarter earnings missed Wall Street estimates.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 04, 2026 16:58 ET (21:58 GMT)
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