After a series of mixed results from Big Tech companies, focus shifts to the neocloud sector this week.
- CoreWeave will report quarterly results on Tuesday, and Nebius and Cisco will report on Thursday.
- Adobe’s design conference MAX kicks off on Tuesday.
- Results come after tech stocks, mainly chip shares, declined sharply last week.
After a series of mixed results from Big Tech companies, focus will shift to the neocloud space this week with reports from CoreWeave (CRWV) and Nebius (Nebius). The sector has seen intense pressure in the last few weeks as investors question the feasibility of neocloud businesses, which remain largely loss-making, amid concerns about whether AI-linked spending will continue.
Cisco will also report results, while investors will tune in to Adobe’s flagship annual event for the latest in the design-tech space. Here are the key events to watch out for this week:
Tech Earnings
CoreWeave (Nov. 10): The neocloud leader’s report is particularly important this quarter. Concerns over a fall in CoreWeave’s bond prices have called into question the debt-fueled business models most neocloud players use, triggering a sharp fall in their shares in recent weeks.
Investors will closely watch the company’s debt levels, sales growth, and future fundraising plans in its upcoming report. Analysts expect revenue to rise 160% to $3.54 billion and an adjusted loss of $1.21 per share, per Koyfin.
Nebius, Cisco and Foxconn (Nov. 12): Reporting two days later is CoreWeave rival Nebius. Analysts expect its third-quarter revenue to rise 521% to $907 million and an adjusted loss of $0.63 per share.
Cisco and China’s Foxconn will shed light on AI data center demand and electronic manufacturing markets, respectively. Analysts expect Cisco’s fiscal first-quarter revenue to rise 22% to $18.16 billion and adjusted profit to increase 32% to $1.32 per share.
Tech Events
Adobe MAX (Nov. 10-12, Miami): Adobe is hosting its flagship annual design conference. Attendees will experience discussions on creative work, design tools, and AI.
Confirmed speakers include Adobe Chair and CEO Shantanu Narayen and other members of the senior management, and several creatives including Siobhán Maroney, creative director and co-founder of They Are Creative, and filmmaker Drex Lee.
Cerebral Valley AI Summit (Nov. 12, San Francisco): The event is an invite-only gathering for AI founders, investors, and leaders.
Confirmed speakers include Databricks CEO Ali Ghodsi, Palo Alto Networks CEO Nikesh Arora, Rivel AI CEO Igor Babuschkin, Perplexity CEO Aravind Srinivas, and Hemant Taneja, CEO, General Catalyst, among others.
Tech Winners And Losers Ahead Of Monday
| Nasdaq-100 Gainers | Nasdaq-100 Losers |
| AppLovin (up 71.2%) | Lumentum Holdings (down 36%) |
| Take-Two Interactive (up 13%) | Seagate (down 28.5%) |
| Amazon (up 7.9%) | Marvell (down 28.1%) |
Last week, the Invesco QQQ Trust Series 1 (QQQ) fell 5% and the iShares Semiconductor ETF (SOXX) declined 13.1%, extending their multi-week drops.
The software-focused iShares Expanded Tech-Software Sector ETF (IGV) fell nearly 5.2%.
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