US Stock Trends (November 3): Oil Prices Plunge 7%, Apple Reports Record Revenue But Stock Falls After Hours
US stocks showed mixed performance with Dow Jones up 0.41% and Nasdaq down 1.07%. Oil prices dropped 7% due to US-Iran diplomatic signals. Apple reported record revenue of $114.5B but fell 4% after hours. Marvell and Lumentum stocks plummeted after acquisition announcement. Palantir's revenue grew 63% but stock fell after initial rise.
How this was made
The 30-second read
Why it matters
Earnings beats for Apple and Palantir did not translate into price gains, while Marvell's acquisition deal sparked broad sell‑offs across the AI infrastructure chain.
Market read
Multiple large‑cap earnings and a high‑profile acquisition create immediate trading opportunities across tech and semiconductor sectors.
What to watch
Apple's lack of guidance and supply‑chain constraints could sustain downside pressure.
Background
The article combines a market wrap with fresh earnings releases and a major M&A announcement.
Ticker impact
Apple reported record Q4 FY2026 revenue of $114.5B but its stock fell ~4% after hours.
likely pressure as investors digest modest beat and lack of guidance
Large‑cap earnings with immediate after‑hours price decline creates a short‑term trading opportunity.
Palantir posted Q3 revenue of $1.18B (+63% YoY) beating estimates, then its stock fell ~3.6% after an initial rise.
potential downside as short‑term profit‑taking outweighs growth news
Sharp move after earnings provides a near‑term trade signal.
Marvell announced an all‑stock acquisition of Lumentum, causing both stocks to plunge.
downward pressure as market doubts deal synergies
M&A news with immediate price impact is actionable.
Market effects
Energy price drop lifts consumer/industrial stocks; tech sector faces renewed pressure.
US midterm election and oil plunge influence broader market sentiment.
Oil price collapse and geopolitical easing affect global commodity markets.
Counterpoint
Despite earnings beats, short positions may benefit from continued profit‑taking.
Key entities
- companyApple
Record Q4 revenue but after‑hours stock decline.
- companyPalantir
Strong revenue growth, post‑earnings sell‑off.
- companyMarvell Technology
Announced all‑stock purchase of Lumentum.
- companyLumentum Holdings
Target of Marvell acquisition, shares tumble.
