Amazon shares fell after the company missed earnings expectations for the third quarter of 2026, amid a broader decline in major technology stocks. The setback came as Intel also dropped following its earnings report, with Nasdaq-100 futures falling against the backdrop of pressure on both companies.

Intel shares slid 21% after the chipmaker issued a weak outlook for the current quarter and pointed to a slowdown in PCs. Revenue in its client computing and physical artificial intelligence group declined 5% from the year-earlier quarter to $8.1 billion. Those figures provided a concrete indication of weakness alongside Amazon’s earnings miss.

The two companies’ reports presented different concerns. For Amazon, the reported disappointment centred on quarterly earnings falling short of expectations. For Intel, the sharp share-price decline followed a weak outlook, while the revenue figures showed that its client computing and physical artificial intelligence group was already recording lower sales than a year earlier.

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The decline in Nasdaq-100 futures placed those company-specific developments within a wider technology-market retreat. Amazon’s earnings miss came as major technology stocks were already experiencing selling, rather than arriving against a stable market backdrop. The available information does not establish how much either company contributed to the futures decline.

Intel’s figures also require a distinction between the period reported and the period ahead. The 5% revenue decline describes a year-on-year comparison for the reported quarter. The weak outlook concerns the current quarter. Together, they put both recent performance and the near-term business outlook in focus, without providing enough detail to quantify any further deterioration.

Intel pointed to a slowdown in PCs when issuing its weak outlook. The $8.1 billion revenue figure, however, covers the company’s client computing and physical artificial intelligence group. It should not be treated as a separate measure of PC revenue or artificial intelligence revenue; no breakdown between those activities appears in the supplied information.

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The detail available for Amazon is more limited. The material establishes a third-quarter 2026 earnings miss and a fall in its shares, but supplies neither an earnings figure nor the size of the shortfall against expectations. It also gives no percentage decline for Amazon’s stock, preventing a numerical comparison with Intel’s 21% slide.

That limits conclusions about the relative severity of the two disappointments. The reports support an account of simultaneous pressure on major technology shares, but not a finding that Amazon and Intel faced the same underlying business problem. The PC slowdown was identified in connection with Intel’s outlook, not Amazon’s results.

Looking ahead, Intel’s weak current-quarter outlook signals concern about the period ahead, rather than providing results for that period. For Amazon, the supplied material contains no guidance on which to base a forward-looking assessment. The immediate picture is narrower: an earnings miss at Amazon and a weak outlook at Intel accompanied share declines against an already difficult backdrop for technology stocks.