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Tech stocks mixed as new tariffs hit shares despite upbeat Intel results
President Trump announced tariffs of 10.0% to 12.5%, and Intel stock fell more than 2% even after reporting better-than-expected earnings and a stronger outlook for the current quarter.
Tech stocks were mixed in early trading Friday after President Trump announced new tariffs on global trading partners on Thursday, with the White House saying the measures are aimed at combating forced labor.
The tariffs range from 10.0% to 12.5% and cover countries including the UK, Australia, Chile, Japan, and China, according to the report.
Intel shares dropped more than 2% despite the company posting better-than-anticipated earnings and an upbeat outlook for the current quarter after the bell on Thursday. The article also noted Intel has been benefiting from the AI boom through its CPUs, and the stock is up 326.0% over the last 12 months.
Yahoo Finance also said investors were less impressed by recent earnings from Google and Tesla, while AMD officially launched its Helios rackscale system, positioning it as a competitor to Nvidia’s Grace Blackwell and Vera Rubin-based NVL72 rackscale systems.