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Financialbuzz.com: 'Tech Sector Earnings Recap' Week Ending February 1st, 2019NEW YORK, February 1, 2019 /PRNewswire/ -- FinancialBuzz.com News Commentary U.S. stocks surged throughout the week, led by stronger-than-expected earnings from major corporations. Investors and analysts specifically focused on the tech giants' financial results for the week. Apple and AMD reported first on Tuesday, during after market hours. Both surpassed their quarterly expectations, causing shares to soar. The strong earnings carried on into Wednesday, causing U.S. markets to flourish. The Dow Jones Industrial Average climbed as high as 530.48 points or 2.1% on Wednesday. However, during Wednesday's after market hours, other tech giants reported mixed earnings, causing markets to open weaker on Thursday. Facebook, Microsoft, and Tesla reported their results on Wednesday. Among the three, only Facebook surpassed its estimates, while Microsoft and Tesla shares edged lower after missing their estimates. The mixed results caused the Dow Jones to fall by approximately 150 points at the opening bell on Thursday. The Dow closed flat on Thursday just before Amazon's financial results. Despite the decline, the Dow Jones then rose by 449.48 points or 1.8% since Monday into Thursday's open. The S&P 500 increased by 44.25 points or 1.6%, while the Nasdaq Composite jumped by 150.57 points or 2.1%. Nvidia Corporation (NASDAQ: NVDA), Advanced Micro Devices, Inc. (NASDAQ: AMD), Apple Inc. (NASDAQ: AAPL), Facebook Inc. (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN) The S&P 500 and Nasdaq Composite moved on their own compared to the Dow due to earnings results and the Federal Reserves' signal that rate increases may be on pause. However, earnings will continue to remain in focus for the next several weeks as more large-cap corporations are expected to report. Investors and analysts will now shift their focus onto remaining tech stocks, like Nvidia and Google, and biotechnology companies, such as Merck & Company, Cigna, and Gilead. "The market is back to being focused on earnings," Kate Warne, an Investment Strategist at Edward Jones, said in an interview at Bloomberg's New York headquarters. "Much of the news has been reassuring and that's supported rising stocks." For our latest "Buzz on the Street" Show featuring the "Tech Sector Earnings Recap" please visit: https://www.youtube.com/watch?v=yrLmODrt0WY Nvidia Corporation (NASDAQ: NVDA) shares plummeted by 17% on Monday after the chipmaker slashed its fourth-quarter guidance. For the upcoming quarter, Nvidia expects revenue to be USD 2.2 Billion compared to its previous guidance of USD 2.7 Billion. The Company noted various factors contributing to the decline such as weakness in certain business segments, excess inventory following the crypto-currency boom, and declining macroeconomic conditions specifically in China. Advanced Micro Devices, Inc. (NASDAQ: AMD) reported its fourth quarter financial results on Tuesday, delivering mixed results. The chipmaker reported earnings of USD 8 cents on revenue of USD 1.42 Billion. AMD's earnings fell in line with expectations, but revenue fell short of estimates of USD 1.44 Billion. AMD said the quarter was primarily driven by its computing and graphics segments, as its revenue increased by 9% year-over-year to USD 986 Million. For the next quarter, AMD expects revenue of USD 1.25 Billion, plus or minus USD 50 Million. Apple Inc. (NASDAQ: AAPL) reported its first quarter financial results after market close on Tuesday. The smartphone maker topped both earnings and revenue estimates but missed iPhone revenue expectations due to a steep decline in China. For the quarter, Apple reported earnings of USD 4.18 pr share on revenue of USD 84.3 Billion. Analysts projected earnings of USD 4.17 per share on revenue of USD 83.97 Billion. iPhone sales decreased by 15% year-over-year to USD 51.98 Billion, lower than expectations of USD 52.67 Billion. However, Apple witnessed stronger growth revenue in its Services segment, Mac and Wearables, and its Home and Accessories segments. The latter two segments reached all-time highs, growing at 9% and 33%, respectively. Facebook Inc. (NASDAQ: FB) reported its fourth quarter financial results after market close on Wednesday and crushed estimates. The tech giant saw its share surge over 10% during extended trading hours on Wednesday. For the quarter, Facebook reported earnings of USD 2.38 per share on revenue of USD 16.91 Billion. Analysts expected earnings of USD 2.19 per share on revenue of USD 16.39 Billion. The Company reported daily active users of 1.52 billion and monthly active users of 2.32 billion, both increasing 9% year-over-year and matching analysts' expectations. Average revenue per user increased by 19% to USD 7.37 within the quarter. Amazon.com, Inc. (NASDAQ: AMZN) reported its fourth quarter financial results after market close on Thursday. Despite beating estimates for both earnings and revenue, Amazon shares fell by 2% during extended trading hours after providing weaker guidance. For the quarter, Amazon reported earnings of USD 6.04 per share on revenue of USD 72.4 Billion. Analysts expected earnings of USD 5.68 per share on revenue of USD 71.9 Billion. For the next quarter, Amazon forecasted revenue to be in the range of USD 56 Billion to USD 60 Billion, however, analysts expected USD 60.8 Billion. Subscribe Now! 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