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Technology News 28 January 2026 - 29 January 2026

Microsoft stock drops in premarket after record AI spend puts Azure payoff in focus

Microsoft stock drops in premarket after record AI spend puts Azure payoff in focus

Microsoft shares fell 5.7% to about $454 in premarket trading Thursday after its quarterly report highlighted a 66% jump in capital spending, mainly for AI infrastructure. Revenue rose 17% to $81.3 billion, with cloud sales up 26%. Investors expressed concern over rising costs outpacing sales growth and potential pressure on cloud margins from higher chip prices.
29 January 2026
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Applied Materials stock rises after Mizuho upgrade lifts $370 target and shifts focus to chip spending

Applied Materials stock rises after Mizuho upgrade lifts $370 target and shifts focus to chip spending

Applied Materials shares closed up 1.3% at $336.75 in after-hours trading Wednesday after Mizuho upgraded the stock to Outperform and raised its price target to $370. The move follows a two-day gain of over 5%. Mizuho cited accelerating wafer fab equipment spending forecasts, with global growth seen at 13% in 2026. Investors await Applied’s Feb. 12 results for signs of a chip equipment rebound.
29 January 2026
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Western Digital stock price jumps after hours as Seagate outlook puts WDC earnings in play

Western Digital stock price jumps after hours as Seagate outlook puts WDC earnings in play

Western Digital shares jumped 10.7% to $279.70 in after-hours trading Wednesday, following strong demand signals for AI-related data storage. Seagate surged 19.1% after forecasting better-than-expected earnings, citing increased enterprise AI workloads. Western Digital reports fiscal second-quarter results after Thursday’s close, with investors focused on data-center demand and pricing trends.
29 January 2026
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AMD stock price: After-hours uptick as AI-chip rally rolls on ahead of Feb. 3 earnings

AMD stock price: After-hours uptick as AI-chip rally rolls on ahead of Feb. 3 earnings

AMD shares rose 0.3% to $252.74 in after-hours trading Wednesday, while Nvidia gained 1.6% and Intel jumped 11%. Chip stocks rallied after China approved ByteDance, Alibaba, and Tencent to buy over 400,000 Nvidia H200 AI chips, signaling strong AI data-center demand. The Philadelphia Semiconductor Index climbed 1.7%. Investors await AMD’s earnings on Feb. 3 for further signals on sector momentum.
29 January 2026
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Broadcom stock price holds near $333 after hours as chip rally spreads on AI demand signals

Broadcom stock price holds near $333 after hours as chip rally spreads on AI demand signals

Broadcom shares closed up 0.14% at $333.24 and edged to $333.82 after hours Wednesday, lagging gains in other chip stocks. Chipmakers rose on strong earnings from Texas Instruments and ASML, while investors awaited major tech results and the Fed’s rate decision. The Fed held rates steady, citing a solid economy. Broadcom continues to face margin pressure from a higher share of AI-related sales.
29 January 2026
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Microsoft shares slide after Q2 earnings as AI spending hits record and Azure growth barely clears forecasts

Microsoft shares slide after Q2 earnings as AI spending hits record and Azure growth barely clears forecasts

Microsoft reported fiscal Q2 revenue of $81.3 billion, up 17%, and Azure cloud revenue rose 39%. Capital spending reached a record $37.5 billion, with two-thirds spent on data-center chips for AI. Cloud backlog surged to $625 billion, with 45% tied to OpenAI. Shares fell after hours as investors questioned the pace of AI returns.
29 January 2026
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Sandisk stock jumps nearly 10% as storage rally heats up ahead of Thursday earnings

Sandisk stock jumps nearly 10% as storage rally heats up ahead of Thursday earnings

Sandisk shares surged 9.6% to $527.63 in after-hours trading Wednesday, following Seagate’s strong results and upbeat outlook for data storage demand. The rally came ahead of Sandisk’s fiscal Q2 earnings, set for release Thursday after the close, with investors focused on guidance and pricing. Sandisk traded as high as $544.98, with over 16 million shares changing hands.
29 January 2026
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Lam Research earnings beat lifts LRCX after hours as forecast tops estimates

Lam Research earnings beat lifts LRCX after hours as forecast tops estimates

Lam Research shares rose about 2% in after-hours trading after fiscal Q2 results topped forecasts, with revenue up 22% to $5.34 billion and adjusted earnings at $1.27 per share. The company projected March-quarter revenue near $5.7 billion. China contributed 35% of quarterly revenue. The stock last traded at $248.62, up from $239.58 at the close.
28 January 2026
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Amazon confirms 16,000 layoffs after ‘Project Dawn’ email slip as AI drive deepens

Amazon confirms 16,000 layoffs after ‘Project Dawn’ email slip as AI drive deepens

Amazon will cut about 16,000 corporate jobs, bringing total reductions since October to roughly 30,000. The move affects teams including AWS, Alexa, and Prime Video, and follows early internal emails referencing “Project Dawn.” Amazon shares fell 2% Wednesday. Most affected U.S. staff will get 90 days to find other roles internally.
28 January 2026
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IBM earnings beat on AI-driven software demand — but Red Hat slowdown is the catch

IBM earnings beat on AI-driven software demand — but Red Hat slowdown is the catch

IBM reported fourth-quarter revenue of $19.69 billion and adjusted earnings of $4.52 per share, both above Wall Street estimates. Software revenue reached $9.03 billion, driven by rising AI demand, while Red Hat’s growth slowed to 10%. The company’s AI “book of business” rose to $12.5 billion. Investors are pressing IBM for clearer 2026 revenue and cash-flow forecasts amid ongoing U.S. budget uncertainty.
28 January 2026
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Lumentum stock keeps running — traders circle Feb. 3 earnings and a March OFC briefing

Lumentum stock keeps running — traders circle Feb. 3 earnings and a March OFC briefing

Lumentum Holdings shares rose 3.9% to $385 Wednesday, extending a two-day rally to nearly 16% with trading volume at 4.0 million shares. The company will hold an investor briefing at the OFC conference in Los Angeles on March 17. A new 2x leveraged ETF tied to Lumentum began trading this week ahead of its Feb. 3 earnings release.
28 January 2026
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Microchip (MCHP) stock jumps after BofA upgrade as chip rally widens

Microchip (MCHP) stock jumps after BofA upgrade as chip rally widens

Microchip Technology shares rose 7.6% to $80.87 by 3:15 p.m. EST Wednesday after Bank of America upgraded the stock to “buy” and raised its price target to $95. The move followed gains across chipmakers tied to AI data-center demand. Microchip will report quarterly results on Feb. 5. CEO Steve Sanghi sold 18,509 shares last week under a pre-set trading plan.
28 January 2026
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Stock Market Today

Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

7 February 2026
Seagate shares rose 5.9% to $429.32 Friday after Citigroup raised its price target to $480 and reiterated a buy rating. The gain ended a two-day slide but left the stock 6.6% below its Feb. 3 high. CEO Dave Mosley sold 20,000 shares on Feb. 2 under a pre-arranged plan, SEC filings show. U.S. jobs and inflation data next week are seen as key tests for tech stocks.
Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

7 February 2026
Cummins shares jumped 6.8% to $577.73 Friday, recovering from a nearly 9% post-earnings drop the day before. The company reported Q4 revenue up 1% to $8.54 billion, took a $218 million charge tied to its hydrogen business, and guided for 2026 EBITDA of 17–18% of sales. Demand for data center generators offset weakness in North American truck markets. Analyst reaction was mixed; Truist raised its price target.
Corning stock hits first record close since 2000 as jobs, CPI data loom

Corning stock hits first record close since 2000 as jobs, CPI data loom

7 February 2026
Corning shares surged 8.3% to $122.16 Friday, their highest close since the dot-com era, after Meta agreed to buy up to $6 billion in fiber-optic cables. The stock is up 40% since late 2025, fueled by strong first-quarter guidance and AI data-center demand. Insiders sold shares following the rally, SEC filings show. Investors await next week’s U.S. jobs and inflation data for rate signals.
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