Which tech stocks plunged as the sector suffered a massive sell-off? Exploring the names behind the $1 trillion wipeout
Stocks (Image Via YouTube/ Kevin.Gerrity)
The US stock market had a rough day on Friday, October 30, 2026, as technology stocks lost more than $1 trillion in market value. Intel took the biggest hit, with its shares falling nearly 29%. Nvidia, SanDisk, Micron, Marvell and AMD were also among the companies that saw their stock prices drop. The sharp fall came as investors began questioning whether the billions of dollars being spent on artificial intelligence (AI) would actually bring the profits companies expected.
Which Tech Stocks Suffered the Biggest Losses During the $1 Trillion Sell-Off?
Intel was one of the hardest-hit companies on Friday, as its shares fell 28.6%. This came despite the company reporting better-than-expected results for the third quarter.
Investors were more concerned about its outlook for the next three months, as Intel expected fourth-quarter revenue to be between $15 billion and $16 billion. That was below the roughly $17 billion analysts had expected.
The company also warned that the PC market could remain weak into 2027. Other chip companies were not spared either.
SanDisk shares dropped 13.8%, while Marvell lost around 10%. AMD and ARM also saw their shares fall by around 10%, and Micron declined 5.3%.
Nvidia’s shares fell 4.2%, which was also a major concern for the market because of the company’s huge value and its important role in the AI business.
Alphabet, Google’s parent company, had already suffered a major fall on Thursday, October 29. Its shares dropped more than 12%, marking the company’s worst single-day decline.
The fall wiped out around $500 billion in market value as investors raised concerns about its growing AI costs and cash flow.
ServiceNow also had a difficult Thursday, with its shares falling around 27% after its quarterly results disappointed investors.
Amazon faced selling pressure on Friday as well, with its stock dropping around 1.4% during regular trading.
Why Did Technology Stocks Fall Across the Market?
A major concern for investors was the amount of money technology companies were putting into AI.
Companies such as Alphabet, Amazon and Microsoft had been spending billions on data centers, computer chips and other AI services.
While these investments were meant to support future growth, investors wanted to see stronger profits and better returns from the money being spent.
Alphabet’s rising AI costs added to those worries. Amazon also faced questions about its latest financial results after reporting earnings of $1.89 per share, below the $1.96 analysts had expected.
Its free cash flow showed an outflow of $42.4 billion over the previous 12 months, largely because of higher spending on property and equipment for AI. Intel’s outlook added another concern for the chip industry.
Its warning about weak PC demand, costs and supply problems made investors more careful about other companies linked to chip sales and AI growth.
How Much Did the $1 Trillion Tech Sell-Off Affect the Stock Market?
The fall spread beyond technology companies and affected the wider US stock market. On Friday, the S&P 500 dropped 1.8%, while the Nasdaq Composite fell 2.9%.
The Dow Jones Industrial Average also lost 1.1%, making it Wall Street’s worst trading day since June.
Reddit was another major loser, with its shares falling around 29% on Friday. Microsoft, Meta, Amazon and Alphabet also ended the session lower.
The Nasdaq 100 dropped 3.5%, bringing it close to correction territory, which means a decline of at least 10% from a recent high.
The sell-off wiped out more than $1 trillion in market value, according to Cboe. The sharp decline showed that investors were no longer looking only at how much companies were investing in AI.
They also wanted to know when that spending would start bringing in stronger profits.