AI and Chip Stocks Wobble on OpenAI Revenue Report and Apple Order Cuts

Technology shares rebounded Friday after a sell-off a day earlier, when AI and chip stocks fell following a Financial Times report that OpenAI's annualized revenue run rate reached about $50 billion in September, roughly $20 billion below a figure circulated in late September.

Separately, Nikkei Asia reported that Apple cut iPhone 18 Pro component orders by 15% to 20% for October. Apple shares fell about 2% and Skyworks Solutions dropped more than 6%, while HP slid about 6% on a filing pointing to lower 2027 PC volumes.

The moves highlight how sensitive AI-hardware names, including server makers such as Super Micro Computer, remain to signals about end-demand. The Nasdaq still rose 0.6% on Friday and posted a fourth straight weekly gain.