Nikada
Chinese tech stocks were in the green on Friday following quarterly earnings results of U.S. tech giants Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG) (GOOGL).
Video sharing platform Bilibili (BILI) has surged 7%, while internet search giant Baidu (BIDU) is up 3%. E-commerce companies Alibaba (BABA) is up 2% and JD.com (JD) has climbed 5%. Meanwhile, video games company NetEase (NTES) has jumped 3%.
Google’s parent Alphabet saw its stock soar 10% on Friday after its first-quarter results beat analyst expectations as revenues jumped 15% with strong performance, particularly at YouTube. The tech giant launched its first dividend.
Meanwhile, Microsoft’s fiscal third-quarter results and guidance received wide praise on Wall Street as the company continues to demonstrate its ability to monetize artificial intelligence, or AI, in several ways, including via its Azure cloud unit.
However, Intel’s (Intel) stock tumbled about 10% on Friday after significantly weaker-than-expected guidance for the second-quarter made investors nervous.