Gene Munster, an analyst at Loup Ventures, stated on Monday that Meta Platforms' (NASDAQ:META) disclosed documents revealing slower-than-anticipated growth of its main metaverse platform constitute a "quite evident disappointment."
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The NYSE Financial Index increased 3.7% in afternoon trading on Thursday, and the SPDR Financial Select Sector ETF gained 4%. Financial stocks also rose along with the broader markets.
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On Thursday, despite the tech titan being the top pick of financial company Bernstein, Meta Platforms saw a more than 3% decline.
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The most talked-about equities on Wednesday morning in the Wallstreetbets subforum of Reddit were rising.
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According to Reuters, the Biden administration's impending curbs on Chinese memory chipmakers may not apply to South Korean chipmakers Samsung (OTCPK:SSNLF) and SK Hynix.
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The month of October has arrived, and in addition to customs like the baseball playoffs and Halloween, it will also include a number of quarterly financial releases from some of the largest names in technology.
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Wednesday morning before the bell, technology stocks were falling. Recently, the Semiconductor Sector Index Fund and the Technology Select Sector SPDR ETF both had more than 1% declines.
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