{"id":74602,"date":"2026-11-12T17:38:23","date_gmt":"2026-11-12T21:38:23","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amid-market-slump-anthropic-ipo-sees-massive-demand\/74602\/"},"modified":"2026-11-12T17:38:23","modified_gmt":"2026-11-12T21:38:23","slug":"tech-earnings-beat-estimates-amid-market-slump-anthropic-ipo-sees-massive-demand","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amid-market-slump-anthropic-ipo-sees-massive-demand\/74602\/","title":{"rendered":"Tech Earnings Beat Estimates Amid Market Slump; Anthropic IPO Sees Massive Demand"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Cisco (<a href=\"\/stock\/CSCO\">CSCO<\/a>)<\/strong> and <strong>Applied Materials (<a href=\"\/stock\/AMAT\">AMAT<\/a>)<\/strong> both topped quarterly expectations and issued strong forward guidance, providing a bright spot for the tech sector.<\/li>\n<li><strong>Anthropic\u2019s<\/strong> highly anticipated <strong>IPO<\/strong> is reportedly <strong>six times oversubscribed<\/strong>, signaling intense investor appetite for leading artificial intelligence firms.<\/li>\n<li>Major U.S. indices closed lower as <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> fell <strong>4.3%<\/strong> following reports of a leadership issue involving CEO Jensen Huang, weighing on broader risk sentiment.<\/li>\n<li><strong>ExxonMobil (<a href=\"\/stock\/XOM\">XOM<\/a>)<\/strong> reached a final investment decision for its <strong>$12.5 billion Longtail project<\/strong> offshore Guyana, aiming for production by 2030.<\/li>\n<li>Geopolitical tensions remain in focus as U.S. envoys meet with President Zelenskyy in Dublin, while markets brace for potential <strong>accelerated Fed rate hikes<\/strong> due to rising energy costs.<\/li>\n<\/ul>\n<h2>Tech Sector Resilience Amid Market Volatility<\/h2>\n<p>Despite a broad market downturn, major technology players reported robust financial results after the bell on Thursday. Cisco (<a href=\"\/stock\/CSCO\">CSCO<\/a>) posted <strong>Q1 revenue of $18.5 billion<\/strong>, beating the <strong>$18.13 billion<\/strong> estimate, and raised its full-year revenue guidance to a range of <strong>$74.8 billion to $75.8 billion<\/strong>. The networking giant&#39;s adjusted EPS of <strong>$1.40<\/strong> also cleared analyst expectations of <strong>$1.32<\/strong>.<\/p>\n<p>Applied Materials (<a href=\"\/stock\/AMAT\">AMAT<\/a>) followed suit, reporting <strong>Q4 net sales of $10.41 billion<\/strong>, surpassing the <strong>$10.27 billion<\/strong> consensus. The semiconductor equipment maker provided an optimistic outlook for Q1, forecasting sales between <strong>$10.60 billion and $11.60 billion<\/strong>, with the midpoint comfortably above the <strong>$10.87 billion<\/strong> Wall Street estimate.<\/p>\n<h2>Anthropic IPO Draws Record Interest<\/h2>\n<p>The artificial intelligence sector continues to dominate investor attention as <strong>Anthropic&#39;s IPO<\/strong> reportedly received orders for <strong>six times the number of available shares<\/strong>. This massive oversubscription suggests the debut could be one of the <strong>largest first-time share sales<\/strong> in history. The frenzy comes even as the broader market struggles with &quot;risk-off&quot; sentiment triggered by leadership uncertainty at AI bellwether <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>).<\/p>\n<h2>Wall Street Slumps as Yields Climb<\/h2>\n<p>U.S. equities ended the session in the red, with the <strong>Nasdaq Composite<\/strong> falling <strong>0.41%<\/strong> to close at <strong>25,362.36<\/strong>. The <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> shed <strong>0.34%<\/strong>, while the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/strong> dropped <strong>182.56 points<\/strong>. Investor sentiment was dampened by a <strong>4.3% slide in <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> shares and a spike in energy expenses, which fueled fears that the Federal Reserve may need to <strong>accelerate rate hikes<\/strong> to combat persistent inflation.<\/p>\n<p>Treasury yields climbed as markets reacted to the combination of rising <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> and hawkish Fed expectations. Adding to the fiscal complexity, latest data shows the <strong>U.S. Government is $716.8 billion away<\/strong> from its <strong>$41.1 trillion borrowing limit<\/strong> as of November 10th.<\/p>\n<h2>Energy and Geopolitics<\/h2>\n<p>ExxonMobil (<a href=\"\/stock\/XOM\">XOM<\/a>) announced a major commitment to its Guyana operations, greenlighting the <strong>$12.5 billion Longtail development<\/strong>. This eighth project in the Stabroek block is expected to include <strong>45 subsea wells<\/strong> and produce up to <strong>250,000 barrels of condensate per day<\/strong> when it comes online in 2030.<\/p>\n<p>On the diplomatic front, U.S. envoys Jared Kushner and Steve Witkoff arrived in Dublin to meet with Ukrainian President Volodymyr Zelenskyy. Kushner noted that a <strong>Russia-Ukraine peace deal &quot;will take time,&quot;<\/strong> as markets continue to monitor the impact of global instability on trade and energy prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Cisco (CSCO) and Applied Materials (AMAT) both topped quarterly expectations and issued strong forward guidance, providing a bright 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