For The Moment: Big Tech's Meaningless Post Reporting Dips

 | Oct 29, 2021 12:53AM ET

We are now on the downslope of the earnings season. It’ll get more boring with each passing day now.

The two monsters have reported, and as of Thursday afternoon, they were both leaking. We have Amazon.com (NASDAQ:AMZN), which got hit hard.

Amazon Price Chart

And even Apple (NASDAQ:AAPL) was losing value, with its first revenue miss in four years.

Apple Price Chart

I attach very little value to these after-hours moves. Look at Shopify (NYSE:SHOP) from last Wednesday night. Quite a tumble, huh?

Shopify Price Chart

And there’s that same big drop, circled in red, after the next day session. Meaningless.

For the moment, however, the NQ was down about half a percent, collapsing to values not seen since Friday.

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