Feng Huang Wang·2025-10-22 22:36Market Performance - The Dow Jones index fell by 0.71% to 46,590.41 points, the S&P 500 dropped by 0.53% to 6,699.40 points, and the Nasdaq index decreased by 0.93% to 22,740.40 points, following a record high in the previous trading day [2] - Texas Instruments' stock plummeted by 5.6% due to disappointing earnings and weak guidance for Q4, negatively impacting the semiconductor sector [2] - Netflix's stock fell by 10% due to performance issues related to a dispute with Brazilian tax authorities [2] Company News - Analyst Ming-Chi Kuo reported that demand for iPhone Air is below expectations, leading the supply chain to reduce shipments and production capacity, with a forecasted reduction of over 80% by Q1 2026 [5] - Meta is cutting approximately 600 positions in its AI department to enhance decision-making efficiency, affecting several teams while a new lab remains unaffected [6] - Google announced a breakthrough in quantum computing with its Willow chip, achieving a verifiable quantum advantage algorithm that operates 13,000 times faster than the best supercomputers [7] - Tesla reported Q3 revenue of $28.1 billion, exceeding estimates, but adjusted earnings per share fell to $0.50 from $0.72 year-on-year, leading to a post-market drop of over 2% [8] - IBM's Q3 revenue reached $16.33 billion, surpassing expectations, with free cash flow of $2.37 billion, but the stock fell over 5% in after-hours trading [9] - Southwest Airlines reported an adjusted EPS of $0.11 for Q3, beating analyst expectations, with passenger revenue of $6.3 billion [10]