AI stock selloffs fuel fears Big Tech's best quarters are over

A selloff in major technology stocks this week, with the Nasdaq 100 falling about 4% and wiping out more than $1 trillion in value, reflected investor fears that massive AI spending won't pay off soon. Quarterly results from Amazon, Alphabet, ServiceNow and Meta disappointed, while Intel shares plunged more than 30% after a weak outlook tied partly to an October factory explosion in Israel. Analysts said investors are trimming tech gains rather than exiting equities, though some remain optimistic about the sector's long-term prospects.