Wireless chips maker Skyworks Solutions (NASDAQ: SWKS) met Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 11.1% year on year to $1.07 billion. The company expects next quarter’s revenue to be around $950 billion, coming in 100,716% above analysts’ estimates. Its non-GAAP profit of $1.60 per share was 1.7% above analysts’ consensus estimates.
Medical technology company Hologic (NASDAQ:HOLX) met Wall Street’s revenue expectations in Q4 CY2024, but sales were flat year on year at $1.02 billion. On the other hand, next quarter’s revenue guidance of $1 billion was less impressive, coming in 3.2% below analysts’ estimates. Its non-GAAP profit of $1.03 per share was 1.4% above analysts’ consensus estimates.
Semiconductor testing company FormFactor (NASDAQ:FORM) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 12.7% year on year to $189.5 million. On the other hand, next quarter’s revenue guidance of $170 million was less impressive, coming in 11.6% below analysts’ estimates. Its non-GAAP profit of $0.27 per share was 7.3% below analysts’ consensus estimates.
Engineering and design software provider PTC (NASDAQ:PTC) reported Q4 CY2024 results beating Wall Street’s revenue expectations, with sales up 2.7% year on year to $565.1 million. On the other hand, next quarter’s revenue guidance of $605 million was less impressive, coming in 5.8% below analysts’ estimates. Its GAAP profit of $0.68 per share was 26.6% above analysts’ consensus estimates.
Alphabet shares fell sharply Wednesday as investors responded to the Google parent's weaker-than-expected revenue numbers and big AI spending plans. Monitor these important chart levels.
Palantir stock is trading at a lofty valuation "which history suggests is nearly impossible to grow into," Deutsche Bank's Brad Zelnick said.
Advanced Micro Devices shares plunged Wednesday and several analysts lowered their price targets after the chipmaker’s data center sales missed expectations.
Shares of FMC Corp. lost roughly a third of their value Wednesday, making the stock by far the biggest decliner in the S&P 500 after it reported a net loss for the fourth quarter.
Shares of several tech companies specializing in artificial intelligence products soared Wednesday after Google parent Alphabet said it plans to ramp up spending on AI.
Shares of Google parent Alphabet tumbled Wednesday as several analysts lowered their price targets for the stock, citing concerns about the tech giant's weaker-than-expected cloud growth and plans to ramp up spending on AI.