{"id":61381,"date":"2026-04-28T17:38:15","date_gmt":"2026-04-28T21:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-selloff-overshadows-earnings-beats-as-starbucks-and-visa-signal-consumer-resilience\/61381\/"},"modified":"2026-04-28T17:38:15","modified_gmt":"2026-04-28T21:38:15","slug":"tech-selloff-overshadows-earnings-beats-as-starbucks-and-visa-signal-consumer-resilience","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-selloff-overshadows-earnings-beats-as-starbucks-and-visa-signal-consumer-resilience\/61381\/","title":{"rendered":"Tech Selloff Overshadows Earnings Beats as Starbucks and Visa Signal Consumer Resilience"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Tech stocks faced a sharp selloff<\/strong> following reports that <strong>OpenAI missed key sales and user growth targets<\/strong>, sparking broader concerns over the return on investment for massive AI expenditures.<\/li>\n<li><strong>Starbucks (<a href=\"\/stock\/SBUX\">SBUX<\/a>) and Visa (<a href=\"\/stock\/V\">V<\/a>) reported strong quarterly beats<\/strong>, with both companies highlighting <strong>resilient consumer spending<\/strong> despite ongoing macroeconomic uncertainty.<\/li>\n<li><strong>Canada revised its 2026 GDP growth forecast downward to 1.1%<\/strong>, though the federal government projected <strong>narrower budget deficits<\/strong> and a lower debt-to-GDP ratio through 2028.<\/li>\n<li><strong>US API crude oil stocks fell by 1.79 million barrels<\/strong>, significantly defying analyst expectations of a 0.3 million barrel build.<\/li>\n<\/ul>\n<h2>Tech Volatility and AI Growth Concerns<\/h2>\n<p>The technology sector led a broader market decline on Tuesday as investors questioned the long-term profitability of artificial intelligence. Reports indicating that <strong>OpenAI failed to meet internal sales and user growth milestones<\/strong> triggered a wave of skepticism regarding the pace of AI monetization.<\/p>\n<p>This sentiment shift comes amid <em>growing anxiety over whether the billions of dollars poured into AI infrastructure by hyperscalers will translate into immediate bottom-line results<\/em>. The selloff suggests a narrowing window of patience among investors for tech firms to prove the efficacy of their AI investments.<\/p>\n<h2>Consumer Giants Defy Macroeconomic Gloom<\/h2>\n<p>In contrast to the tech rout, Starbucks (<a href=\"\/stock\/SBUX\">SBUX<\/a>) posted impressive Q2 results, with <strong>net revenue of $9.5 billion<\/strong> beating the $9.14 billion estimate. <strong>Global comparable sales rose 6.2%<\/strong>, nearly double the expected 3.65%, while <strong>Adjusted EPS reached $0.50<\/strong> against a $0.43 forecast.<\/p>\n<p>Starbucks CEO <strong>Brian Niccol<\/strong> noted during the conference call that the company has <strong>not observed macroeconomic effects filtering down into consumer behavior<\/strong>. This sentiment was echoed by Visa (<a href=\"\/stock\/V\">V<\/a>), which reported <strong>Q2 Adjusted EPS of $3.31<\/strong> on <strong>$11.23 billion in revenue<\/strong>, both surpassing analyst projections.<\/p>\n<h2>Corporate Earnings Roundup: T-Mobile and Booking Holdings<\/h2>\n<p>T-Mobile (<a href=\"\/stock\/TMUS\">TMUS<\/a>) reported a strong Q1, with <strong>revenue of $23.11 billion<\/strong> and <strong>EPS of $2.27<\/strong>, beating the $2.06 consensus. The carrier also raised its full-year <strong>Core Adjusted EBITDA guidance to a range of $37.1 billion to $37.5 billion<\/strong>, signaling confidence in its subscriber growth trajectory.<\/p>\n<p>Booking Holdings (<a href=\"\/stock\/BKNG\">BKNG<\/a>) also joined the list of outperformers, reporting <strong>Q1 Adjusted EPS of $1.14<\/strong> on <strong>$5.53 billion in revenue<\/strong>. Despite a slight miss in gross bookings ($53.8 billion vs. $54.24 billion expected), the company expects <strong>full-year revenue growth in the high single digits<\/strong>.<\/p>\n<h2>Global Macroeconomic and Energy Updates<\/h2>\n<p>Canada provided a mixed fiscal outlook, lowering its <strong>2026 real GDP growth forecast to 1.1%<\/strong> from 1.2%. However, the federal government improved its fiscal standing, pegging the <strong>2025\/26 budget shortfall at C$66.9 billion<\/strong>, down from the C$78.3 billion previously forecast in November.<\/p>\n<p>In the energy sector, Northern Oil and Gas (<a href=\"\/stock\/NOG\">NOG<\/a>) reported a <strong>Q1 GAAP net loss of $522.8 million<\/strong>, largely due to non-cash items, but managed an <strong>Adjusted EPS beat of $0.74<\/strong>. Meanwhile, the <strong>API reported a crude oil draw of 1.79 million barrels<\/strong>, suggesting <em>tighter-than-expected supply levels<\/em> as the market monitors global demand trends.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Tech stocks faced a sharp selloff following reports that OpenAI missed key sales and user growth targets, sparking 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