Post-Earnings Volatility Grips Tech and Consumer Stocks

Qualcomm led the decline among tech hardware firms, with shares sliding 7% to $160.98 as cooling handset sales weighed on quarterly revenue. The mood was starkly different for AppLovin, which surged 21% to $328.05 after the company announced an expansion of its stock buyback program alongside strong revenue growth.

Elsewhere, consumer-facing sectors faced significant pressure. Zillow shares dropped 15% to $28.68 as the housing market slowdown sapped traffic to its digital platforms. Meanwhile, Cava saw its valuation retreat 13% to $53.85 after a Cyclospora outbreak disrupted its third-quarter performance. Expedia rounds out the list of decliners, falling 8% to $289.85 following a conservative fourth-quarter forecast attributed to ongoing geopolitical instability.