Dow Jones futures fell as Microsoft's weak Azure growth and AMD's uncertain guidance weighed on investor sentiment. The market rally showed divergence, with small caps and non-tech sectors remaining steady while tech leaders like Nvidia faced a sell-off.
Microsoft reported mixed results, with Azure revenue growth decelerating and AI spending surging. AMD, on the other hand, reported strong earnings and provided positive guidance.
Despite the market turbulence, top analysts added Nvidia to their top pick list, citing strong AI chip demand. The Fed meeting looms ahead, leaving investors awaiting the rate decision.
Microsoft's CEO, Satya Nadella, reassured investors that profits from the company's AI investments are on the horizon. The company remains focused on leading the AI era and aims to deliver substantial cloud revenue growth driven by AI.
The performance of Microsoft's personal computing business will also be closely watched by investors.
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