Tech Down as Apple, Tesla Slide -- Tech Roundup

Shares of technology companies fell as the bellwethers of the pandemic-era tech boom continued to retreat.

Shares of Tesla plunged after the electric car maker logged global deliveries of roughly 405,000 for the fourth quarter of 2022, shy of the Wall Street target.

Apple shares fell, continuing a slide from the fourth quarter of 2022, which dragged its market capitalization below $2 trillion.

Online pet retailer Chewy plans to open more automated fulfillment centers in 2023 to control costs and raise efficiency, which could help the company repurpose certain capital spending, its finance chief said.

Graphics chip maker Nvidia is teaming up with electronics manufacturer Foxconn Technology Group on electric vehicles.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

01-03-23 1713ET