Apple, Palantir and Shopify Fall in the Stock Market Today, November 3, as Dow Futures Slide
The market is split before the open on Election Day. Dow futures were down 0.7% at 7:58 a.m. ET as Apple slid, while Nasdaq-100 futures were up 0.4%, CNBC reported. At 8:00 a.m. ET Apple was down 3.98%, about $197 billion of market value. Palantir and Shopify, which also reported results, fell sharply too.
The short answer. Apple fell after a disappointing forecast for its profit margin, and Palantir fell on slower growth in new US business contracts, CNBC reported. Apple's drop alone is about $197 billion of market value, and Shopify also fell sharply on the morning of its results. Oil is a little higher again, and high oil has helped push up gasoline prices and inflation, CNBC noted.
The market before the open, Tuesday morning
Every company reporting the same week, with its date and time, is in StockTitan's Earnings Calendar for the Week of November 2, 2026.
On this page
Live updates
The newest update comes first. Each one says what changed in the market's story since the one before, with the time it was written.
8:03 a.m. ET
Dow futures slide as Shopify joins Apple and Palantir in the morning's losses
The Dow side of the market weakened in the last hour. Dow futures were down 359 points, or 0.7%, at 7:58 a.m. ET, CNBC reported. S&P 500 futures were down 0.1% and Nasdaq-100 futures up 0.4%. Brent crude gave back most of its early gain and was only slightly higher, near $105 a barrel, CNBC said.
Shopify reported its third quarter at 7:00 a.m. ET. StockTitan's real-time data showed it down 15.82% at 8:00 a.m. ET in pre-market trading (Shopify release). Dynatrace, which reported at 6:30 a.m. ET, was down 13.30%, and Adeia, which reported after the close on Monday, was down 20.42%.
Two companies that reported after the close on Monday joined the gainers. Lattice Semiconductor rose 10.54% after record revenue (Lattice release), and Ethos rose 10.97% after its revenue more than doubled (Ethos release).
6:42 a.m. ET
Apple and Palantir fall while chip stocks rise on Election Day
The morning starts split. Apple and Palantir are sliding after their results, while chip stocks edge higher. At 5:06 a.m. ET, Dow futures were down 0.42% and Nasdaq 100 futures were up 0.46%, Reuters reported.
Oil turned higher after falling more than 7% on Monday. Brent crude was up 1.75% at $106.60 a barrel, CNBC reported in a story updated at 4:58 a.m. ET. Backblaze led StockTitan's pre-market board after its results (Backblaze release), and Compass Pathways also rose as it said it will file for FDA approval of its depression treatment within two weeks (Compass release).
Why is the stock market mixed today
The market is pulled in different directions this morning. Apple's forecast is putting pressure on big tech, CNBC said, while chip stocks bounce and oil climbs again. All of it lands on Election Day.
Tech comes into the day already bruised. The Nasdaq-100 closed Monday in a correction, more than 10% below its October 6 record high, CNBC's Morning Squawk said.
Futures, which trade before the stock market opens, show a split. Reuters reported that at 5:06 a.m. ET, Dow futures were down 0.42% while Nasdaq 100 futures were up 0.46%. S&P 500 futures were barely changed.
StockTitan's real-time data shows it too. At 6:40 a.m. ET in pre-market trading, the QQQ fund, which tracks the Nasdaq-100, was up 0.28%. The SPY fund, which tracks the S&P 500, was down 0.13%.
Why is the Nasdaq side holding up? Chip stocks are rising. Reuters wrote that a rise in most chip stocks was "helping offset some losses among tech stocks." At about 6:40 a.m. ET, Nvidia was up 1.42%, AMD 2.18% and Micron 2.30%. AMD reports its results after the close today.
That bounce stands out, because chip stocks fell hard overseas. South Korea's Kospi ended 3.59% lower and Taiwan's main index also fell 3.59%, CNBC reported. In Europe, ASML fell 3.4% in early trading, according to CNBC.
Then there is oil. Brent crude, the world benchmark, was up 1.75% at $106.60 a barrel, CNBC reported in a story updated at 4:58 a.m. ET. It came a day after oil fell more than 7%, when the US and Iranian presidents signaled they were open to a diplomatic solution, CNBC reported. The rise followed a US strike on Iran's Qeshm Island, which unnamed US officials described to The Wall Street Journal, CNBC reported at 1:41 a.m. ET. A US official called the strikes a defensive measure, according to CNBC. Reuters also cited an Iranian official who said a deal to end the war was far off.
Higher oil matters beyond energy stocks. High oil prices have added to inflation and to gasoline prices, CNBC noted, and two Federal Reserve presidents said last week that interest rates need to move higher. The 10-year Treasury yield edged up to 4.9105%, CNBC reported.
Finally, it is Election Day. Americans are voting in the midterm elections, and CNBC reported that investors were weighing Apple's results while they awaited the vote.
Why is Apple stock down today
Apple's revenue beat estimates, but its forecast for its profit margin in the holiday quarter disappointed investors, CNBC reported. Apple warned that memory chips will keep getting more expensive, Reuters reported.
Apple reported Monday after the close. Revenue for its fiscal fourth quarter, which ended September 26, rose 12% to $114.5 billion, a record for a September quarter, the company said (Apple release). Its gross margin, the share of sales left after the cost of making its products, was 47.9%. That figure includes about 1 point from tariff refunds.
The problem is the next quarter. Apple's forecast for its gross margin in the holiday quarter disappointed investors, CNBC reported. Reuters said Apple warned that the cost of memory chips would keep rising, which pressures that margin.
That forecast is costly for the stock. Apple was down 3.98% from Monday's close at 8:00 a.m. ET in pre-market trading. With about 14.6 billion diluted shares, that is about $197 billion less market value than at Monday's close. StockTitan's Apple earnings article covers the full quarter.
Why is Palantir stock down today
Palantir's sales nearly doubled, but the value of new contracts with US businesses grew much more slowly. CNBC tied the fall to that slowdown.
The numbers in Palantir's report point two ways. Revenue for the third quarter rose 96% to $2.313 billion, and Palantir raised its revenue forecast for 2026 (Palantir release). Sales to US businesses grew 148%.
The weaker line is contracts. Total contract value, the full value of the new deals Palantir signed, rose just 6% to $2.918 billion. For US businesses it rose 11%. CNBC reported that Palantir fell on this slowdown in new US business contracts, citing a note from William Blair.
So sales today are booming, while new deals signed this quarter grew far less. Palantir was down 6.55% at 8:00 a.m. ET in pre-market trading, which is about $30 billion of market value. StockTitan's Palantir earnings article covers the quarter in full.
Biggest stock movers today and why
The biggest gainers before the open are smaller tech companies that reported strong results overnight. Reuters tied the gains in Aehr Test Systems and Harmonic to their raised forecasts.
Backblaze, a cloud storage company, was up 37.43% at 8:00 a.m. ET. Its third-quarter revenue rose 26% to $46.7 million, and sales of its B2 cloud storage grew 47% (Backblaze release).
Aehr Test Systems, which makes machines that test chips, was up 15.60% at 8:00 a.m. ET. Its revenue tripled to a record $33.0 million, and it raised its full-year forecast to $150 million, the top of its earlier range (Aehr release).
Harmonic, which sells broadband network gear and software, was up 16.19% at 8:00 a.m. ET. Its revenue rose 64%, and it raised its 2026 forecast (Harmonic release).
Lattice Semiconductor, which makes programmable chips, was up 10.54% at 8:00 a.m. ET. Its third-quarter revenue rose 118% to a record $291 million, and it expects growth of about 130% in the fourth quarter (Lattice release).
Ethos, which sells life insurance online, was up 10.97% at 8:00 a.m. ET. Its third-quarter revenue rose 151% to $235.2 million (Ethos release).
Compass Pathways was up 10.70% at 8:00 a.m. ET. This morning it reported its quarter and said it will file for FDA approval of its COMP360 psilocybin treatment for treatment-resistant depression within two weeks (Compass release).
The three biggest drops came from companies that also reported. Shopify, which runs online stores for merchants, said this morning that its third-quarter revenue rose 32% to $3.74 billion (Shopify release). Dynatrace, a software company, reported its quarter at 6:30 a.m. ET (Dynatrace release). Adeia, which licenses media and chip technology, reported after the close on Monday (Adeia release).
Two other big moves stood out. Grab was up 10.44% at 8:00 a.m. ET, and Bloom Energy was up 6.78%. On Monday evening, California Resources said it signed a non-binding plan with Bloom to study fuel cell power in California (California Resources release).
| Company | Move | Why |
|---|---|---|
| Backblaze (BLZE) | +37.43%, pre-market, 8:00 a.m. ET | Third-quarter revenue rose 26% to $46.7 million, with cloud storage up 47% (release). |
| Harmonic (HLIT) | +16.19%, pre-market, 8:00 a.m. ET | Revenue rose 64% to $148.8 million, and it raised its 2026 revenue forecast to $545 million to $555 million (release). |
| Aehr Test Systems (AEHR) | +15.60%, pre-market, 8:00 a.m. ET | Record revenue of $33.0 million, up 200%, and a full-year forecast raised to $150 million (release). |
| Ethos (LIFE) | +10.97%, pre-market, 8:00 a.m. ET | Third-quarter revenue rose 151% to $235.2 million (release). |
| Lattice Semiconductor (LSCC) | +10.54%, pre-market, 8:00 a.m. ET | Record third-quarter revenue of $291 million, up 118%, and expected fourth-quarter growth of about 130% (release). |
| Palantir (PLTR) | -6.55%, pre-market, 8:00 a.m. ET | Revenue rose 96%, but US business contract value grew 11%; CNBC reported the stock fell on that slowdown (release). |
| Apple (AAPL) | -3.98%, pre-market, 8:00 a.m. ET | September quarter record revenue of $114.5 billion, but a gross margin forecast for the holiday quarter that disappointed investors, CNBC reported (release). |
Source: StockTitan real-time Nasdaq data, November 3, 2026, last pre-market trade against each stock's November 2 close; company releases linked in each row.
What to watch for the rest of the day
Two economic reports land at 10:00 a.m. ET, and AMD reports after the close. The election results come in tonight.
- 9:30 a.m. ET: the opening bell, when regular trading in Apple and Palantir starts, shown on StockTitan's Apple and Palantir pages.
- 10:00 a.m. ET: the September job openings report (JOLTS) and the factory orders report, both on StockTitan's economic calendar.
- After the close: AMD reports its quarterly results, as the earnings calendar for the week lists.
- Tonight: the midterm election results, as state election officials count the votes.
Our numbers
These figures are our calculations from the sources linked in this article. Average diluted shares, the count each company uses for its earnings per share, stand in for the shares outstanding.
- About $197 billion: Apple's 14.63 billion average diluted shares in its fourth-quarter report times its $13.48 pre-market drop at 8:00 a.m. ET.
- About $30 billion: Palantir's 2.574 billion average diluted shares in its third-quarter report times its $11.675 pre-market drop at 8:00 a.m. ET.
Frequently asked questions
What is moving the stock market today?
Apple and Palantir are falling after their results, CNBC reported, and Reuters said earlier that a rise in most chip stocks was offsetting some tech losses. At 7:58 a.m. ET on November 3, Dow futures were down 0.7% and Nasdaq-100 futures up 0.4%, CNBC reported. It is also Election Day.
Why is Apple (AAPL) stock down today?
Apple was down 3.98% at 8:00 a.m. ET in pre-market trading on November 3. Its September quarter revenue was a record $114.5 billion, but its gross margin forecast for the holiday quarter disappointed investors, CNBC reported. Reuters said Apple warned that memory chip costs would keep rising.
Why is Palantir (PLTR) stock down today?
Palantir was down 6.55% at 8:00 a.m. ET in pre-market trading on November 3. Its revenue rose 96%, but the value of new contracts with US businesses grew only 11%. CNBC reported that Palantir fell on that slowdown.
Why is Backblaze (BLZE) stock up today?
Backblaze was up 37.43% at 8:00 a.m. ET in pre-market trading on November 3. Its third-quarter revenue rose 26% to $46.7 million, and its B2 cloud storage sales grew 47%.
Why is Harmonic (HLIT) stock up today?
Harmonic was up 16.19% at 8:00 a.m. ET in pre-market trading on November 3. Its third-quarter revenue rose 64% to $148.8 million, and it raised its 2026 revenue forecast to $545 million to $555 million.
Why is Aehr Test Systems (AEHR) stock up today?
Aehr Test Systems was up 15.60% at 8:00 a.m. ET in pre-market trading on November 3. Its quarterly revenue rose 200% to a record $33.0 million, and it raised its full-year revenue forecast to $150 million.
Why is Lattice Semiconductor (LSCC) stock up today?
Lattice Semiconductor was up 10.54% at 8:00 a.m. ET in pre-market trading on November 3. Its third-quarter revenue rose 118% to a record $291 million, and it expects revenue growth of about 130% in the fourth quarter.
Why is Ethos (LIFE) stock up today?
Ethos was up 10.97% at 8:00 a.m. ET in pre-market trading on November 3. Its third-quarter revenue rose 151% to $235.2 million.
Sources
- StockTitan: Apple fiscal fourth quarter 2026 results article
- StockTitan: Palantir third quarter 2026 results article
- StockTitan: live market coverage, November 2, 2026
- StockTitan: Earnings Calendar for the Week of November 2, 2026
- StockTitan economic calendar
- Apple fiscal fourth quarter 2026 results release
- Palantir third quarter 2026 results release
- Backblaze third quarter 2026 results release
- Aehr Test Systems first quarter fiscal 2027 results release
- Harmonic third quarter 2026 results release
- Compass Pathways third quarter 2026 results release
- California Resources and Bloom Energy agreement release
- Lattice Semiconductor third quarter 2026 results release
- Ethos third quarter 2026 results release
- Shopify third quarter 2026 results release
- Dynatrace second quarter fiscal 2027 results release
- Adeia third quarter 2026 results release
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.