Alphabet's shares slipped in late trading, despite a quarterly revenue and earnings beat. Baird said the earnings beat was propped up by a lower tax rate, while Pivotal Research said the company took on higher costs, known as "TAC," which has bad implications for future profitability.
Chip technology maker Rambus, which has expanded into areas of digital payments and computer security, saw its shares rise by almost 3% in late trading, after it beat expectations for quarterly results, and forecast the current quarter higher as well.
Shares of contract electronics manufacturer Sanmina-SCI dropped 10% after the company's quarterly revenue was slightly lower than expected, and its forecast for this quarter also missed consensus.
Google shares were down by 2% in late trading despite the company delivering decent upside to Wall Street estimates, as the number of clicks it delivers surged by 52%, offsetting pricing declines of 23%.
Google reports its quarterly results after the closing bell, with investors mulling whether search momentum will be maintained, Everspin shares plunged on no apparent news, Micron Technology is experiencing favorable trends, Pandora gains an activist participant in Jana Partners, Applied Material names a new CFO, Nvidia investors wonder if the stock will ever again be at a price they like, and bulls kept the faith on fiber optics maker Applied Optoelectronics.
Chip equipment giant Applied Materials's announcement its CFO will retire, and the naming of a new CFO hailing from NXP Semi, was largely received positively by both bull and bear.
Nvidia's got investors concerned about the threat to its GPUs of "custom" chips such as Google's "TPU," notes Canaccord Genuity's Matthew Ramsay, but he's unfazed, raising his price target to $180 on the stock to reflect what he believes will be continued success in the data center. He notes investors are skeptical of Intel's prospects and have mixed feelings about AMD.