Stocks of major tech and EV companies took a notable dip following the latest round of quarterly earnings reports, highlighting investor concerns over mixed results and soft guidance across the board.

Advanced Micro Devices (AMD) posted mixed second-quarter results, landing near analyst expectations. However, the company offered a more optimistic third-quarter outlook, emphasizing strength in AI-driven sales. Despite the positive outlook, investors appeared to focus on lingering uncertainty, putting pressure on the stock price.

Rivian faced a turbulent quarter, reporting a wider-than-anticipated loss per share alongside an adjusted EBITDA loss that surpassed estimates. The electric vehicle maker’s results were weighed down by tariffs and the phase-out of US EV tax credits, prompting the company to widen its projected losses for 2025. This combination of policy headwinds and weaker margins dampened investor sentiment.

Lucid also struggled in the quarter, missing analyst expectations on both revenue and earnings, and subsequently lowered its production forecast for the remainder of the year. The company continues to face challenges as it attempts to ramp up its manufacturing operations in a competitive EV landscape.

Super Micro Computer experienced a sharp decline in its stock price after missing revenue estimates for its fiscal fourth quarter. The company’s earnings per share for the period also came in below expectations. Executives cited fierce competition among AI server providers as a primary factor behind the shortfall, which overshadowed otherwise strong year-to-date gains for Super Micro’s shares.

Snap, the parent company of Snapchat, also saw its stock fall after reporting weaker-than-expected results. Although still a leading social media platform, Snap faces ongoing challenges in digital advertising and user engagement.

Overall, these disappointing earnings have underscored the volatility in AI, EV, and social media sectors, as companies navigate rapidly changing markets and shifting investor expectations.