Shares of Apple dropped roughly 4% to 4.5% during premarket trading after the consumer technology titan issued a cautious profitability forecast and reported disappointing iPad sales alongside slowing services growth. Although fourth-quarter net revenue cleared analyst expectations, management cautioned that escalating memory costs and expenses tied to its Siri artificial intelligence rollout would pinch gross margins. Chief executive John Ternus noted that global component supply shortages continue to constrain hardware deliveries even as the company completed its highest-grossing fiscal year.
Palantir also slumped by over 6% in early activity despite beating third-quarter consensus metrics. The data analytics software vendor noted a milestone as its domestic commercial receipts outpaced government revenue for the first time. Even with positive operational developments, broader technology sector volatility and cautious reactions to earnings reports contributed to early-session pullbacks across key high-profile growth names.
Artificial intelligence developer Anthropic disclosed updated financial figures in an amended regulatory registration, providing market participants with fresh visibility ahead of its planned public market debut. The organization logged roughly $17 billion in revenue for the third quarter, representing a twelvefold expansion compared to the prior-year period. However, sequential quarter-over-quarter top-line growth decelerated to approximately 47% from triple-digit rates recorded earlier in the year.
The revised filing revealed an extensive quarterly net loss of $23.29 billion, bringing its cumulative nine-month deficit to $104 billion, driven heavily by changes in the fair value of convertible debt and derivative instruments. The company also disclosed $895.4 billion in forward purchase commitments, highlighting the massive capital expenditure and infrastructure outlays necessary to sustain frontier machine learning model development as investors evaluate the commercial economics of the broader artificial intelligence sector.
Crude benchmarks declined for a second consecutive session as market participants reacted to potential diplomatic breakthroughs intended to resolve the eight-month conflict between the United States and Iran. Brent crude dropped to hover around $103.54 per barrel, while West Texas Intermediate fell toward $96.04 per barrel after previously dipping under the $95 threshold. The persistent selling follows a sharp plunge of more than 7% in the prior trading session, which was spurred by official indications from both Washington and Tehran signaling openness to settlement negotiations.
Mediation efforts spearheaded by Qatari delegations have progressed in Tehran to mitigate regional escalation and facilitate dialogue. The broader energy sector had previously factored in heightened post-midterm escalation risks, which contributed to crude advancing over 10% throughout October. Softening commodity prices provided initial relief to government borrowing costs and consumer-sensitive sectors, even as market participants continue tracking whether diplomatic consultations can secure a lasting framework to alleviate regional shipping and supply bottlenecks.
Ferrari raised its full-year 2026 financial guidance after posting third-quarter operating metrics that surpassed Wall Street projections. The luxury automaker elevated its revenue target to 7.65 billion euros from 7.60 billion euros, while adjusting projected earnings before interest, taxes, depreciation, and amortization up to 3 billion euros. Expected industrial free cash flow was lifted to as much as 1.65 billion euros, alongside higher adjusted earnings per share targets of at least 9.85 euros.
This marks the second consecutive quarter in which the manufacturer upgraded annual targets, driven by strong client personalization intake, reduced foreign exchange headwinds, and a second-place standing in the Formula 1 championship. Operational performance overcame lower total vehicle volume, with deliveries dropping by 318 units to 10,170 through the first nine months due to reduced shipments into the Americas and Greater China. Management indicated its forward customer order pipeline extends into 2028.