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Two Tech Stocks That Dropped This Week and One on the Rise

In an incredibly busy week for the stock market, many major stocks have shifted dramatically after dozens of earnings reports have come in.

The market started off low Friday morning, but heading into late afternoon, the major market indices gained over the previous day and are now looking positive.

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Several tech stocks moved sharply this week, and we want to take a look at three of those.

Netflix Slips After Forecast Releases

Netflix (NLFX) lost 2.77% of its stock price as the company issued its earnings report. They announced great revenue numbers and an increase in subscribers, but with a realistic forecast, the company said that they could not expect to sustain the subscriber increases indefinitely. While Netflix is pulling out all the stops to bring in new subscribers steadily, they will reach their saturation point in the near future and will be unlikely to see substantial numbers for new members from quarter to quarter.

As a result of that forecast and what it was expected to do to their stock, Netflix said that they would stop reporting subscriber numbers in as much detail in the near future. By trying to take the focus off new subscribers, Netflix may be able to make this a great stock to invest in from quarter to quarter.

Meta Platforms Kills Good Earnings with Future Plans

Meta Platforms (META), which is Facebook’s parent company, released some incredible sales figures for the quarter. Meta’s stock fell from $493 to $417 a share as soon as the earnings report came in. Despite strong sales, the company said it would be focusing on AI projects, pouring billions of dollars into new tech. As exciting as that may be, the massive investment scared off traders, and they dropped their Meta stock in droves.

Microsoft Sees Gains

Microsoft (MSFT) stock fell sharply after its earnings report on Wednesday, and the stock stayed down over the next day. Friday, though, saw the stock rebound back to the $405 level and stay there.

Microsoft got burned during the Thursday selloff in the stock market, but the company is now part of what people are calling a “tech rally”. We may see this stock continue to stay high as tech stocks pick up plenty of steam next week.

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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