Overview
- Oracle reported $16.06 billion in quarterly revenue versus a ~$16.21 billion consensus and its shares fell about 11% on Thursday before sliding another roughly 4% on Friday, erasing about $68.7 billion in market value.
- Oracle’s CFO Doug Kehring guided 2025 capex to roughly $50 billion, up from about $35 billion previously, and analysts highlighted a roughly $10 billion negative free cash flow as a key concern.
- Broadcom sank roughly 11% on Friday after projecting first‑quarter revenue above estimates but warning of about a 100‑basis‑point gross‑margin decline, even as it cited a $73 billion AI backlog over six quarters.
- Selling spread across AI and chip names, with declines in Nvidia, Micron, AMD and others; the Nasdaq fell 1.69% Friday, the S&P 500 lost 1.07% and the Dow slipped 0.51%.
- For the week, the Dow rose about 1% while the S&P 500 and Nasdaq declined, a reversal from Thursday when the Dow and S&P closed at record highs despite Oracle’s initial slump.