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US Stock Analysis and Analyst Forecasts — October 29, 2026

Alphabet's worst post-earnings reaction since its 2004 listing and a 20% drop in ServiceNow pushed the Nasdaq 100 ETF down about 1.4%, and after the close Amazon and Intel fell on weak guidance.

None of the following is our own view on any stock — it is a same-day record of market action, analyst consensus and company news across the tracked universe on Thursday, October 29, 2026.

Technology shares sold off and dragged the Nasdaq 100 ETF down about 1.4%, while the S&P 500 ETF lost about 0.4%. Alphabet (GOOGL) set the tone: it plunged roughly 12% after its third-quarter report, which the market treated as the stock's worst post-earnings reaction since it began trading in 2004. Revenue of $127.58 billion came in below the $128.22 billion estimate, and growth in search revenue slowed for a second straight quarter, feeding concern that consumers are turning to AI chatbots instead of traditional search. Alphabet's two share classes together make up about 4.9% of the S&P 500 and 8.3% of the Nasdaq 100, which is why one stock moved the whole index.

Software was hit as well. ServiceNow (NOW) fell more than 20% even though it beat estimates on both revenue and adjusted earnings per share for the quarter; the stock had risen about 15% in the month before the report, which likely raised the bar. Separately, Marvell Technology, which is outside our tracked universe, dropped about 15% to around $215 after a Bloomberg report that it is in late-stage talks to acquire laser-chip maker Lumentum, also untracked.

The inflation data was in line with forecasts. The personal consumption expenditures price index rose 0.5% in September, up from 0.3% in August, taking the annual rate to a four-month high of 3.6% from 3.4%. Core PCE rose 0.3% on the month and 3.1% on the year, both matching expectations. In credit markets, Microsoft (MSFT) sold $25 billion of bonds across maturities from two to 40 years and drew about $115 billion of orders, 4.6 times the size of the deal, according to Bloomberg; it was the company's first high-grade bond offering since 2017.

After the close, Amazon (AMZN) fell about 6% on its third-quarter report. Revenue of $201.9 billion slightly missed estimates, but Amazon Web Services grew 39% to $46 billion, ahead of the $45.7 billion forecast and faster than the previous quarter's 37%, and operating income of $28.1 billion beat the $26.1 billion estimate. The weight on the stock was fourth-quarter sales guidance of $240 billion to $247 billion, a midpoint below the $244.2 billion analysts expected, together with planned capital spending of about $220 billion this year and a trailing twelve-month free cash outflow of $42.4 billion. Amazon's consensus is Strong Buy from 42 Buy and two Hold ratings, with an average target of $331.54, about 36% above Thursday's close.

Intel (INTC) dropped by close to a fifth in extended trading. It earned an adjusted $0.52 per share against the $0.41 forecast, and revenue of $16.51 billion rose 21% from a year earlier, with Datacenter and AI sales up 78% to $7.32 billion. The outlook disappointed: fourth-quarter revenue guidance of $15 billion to $16 billion sits below the $17.05 billion estimate, adjusted earnings of $0.25 per share compare with $0.43 expected, and the 38% gross-margin guide compares with 42.8% expected, with weaker PC demand and an explosion at a plant in Israel cited as factors. Intel's consensus is Moderate Buy from five Buy and 10 Hold ratings, with an average target of $114.23, about 24% above Thursday's close. Also after the bell, Starbucks (SBUX) reported mixed results while continuing a multiyear turnaround, and SanDisk, which is outside our tracked universe, rose after reporting first-quarter earnings of $49.51 per share, ahead of estimates.

Healthcare was the strongest sector of the day. Apple (AAPL), Palantir (PLTR) and Advanced Micro Devices (AMD) report next week, and Chevron (CVX) and ExxonMobil (XOM) report on Friday morning.

As always: a price target is one firm's estimate rather than a forecast of what a stock will do, a single report can move a stock far from where the consensus sits, and none of this is a recommendation to buy or sell anything.

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Published 2026-10-29. Market commentary, not investment advice. Prices are delayed end-of-day data.