Tech Roundup: Wall Street reacts to Cisco, Nvidia results. And more fallout from Elon Musk's new Twitter
JasonDoiy

Earnings reports from tech stalwarts such as Cisco Systems (NASDAQ:CSCO), Nvidia (NASDAQ:NVDA) and Chinese Internet leader Alibaba (NYSE:BABA) led much of the week's activity in the tech sector heading toward the upcoming Thanksgiving holiday in the U.S.
However...If you thought the circus involving Elon Musk and Twitter (TWTR) had finally left town, well, you shouldn't have worried because that big tent was still up, even with fewer Twitter (TWTR) employees inside.
As far as earnings went, on Thursday, Cisco (CSCO) reported better-than-expected quarterly results, and gave a forecast that surpassed Wall Street analysts' estimates. However, some analysts remained a bit cautious about Cisco's (CSCO) prospects due in large part to its order backlog and growth outlook.
Nvidia (NVDA) reported third-quarter results that were mixed, but also gave a fourth-quarter revenue forecast that suggested quarter-over-quarter sales might be on the upswing. 
However, Nvidia (NVDA) officials said they are still wary about business in China, as some of the company's products are included in new U.S. restrictions on the sale of some semiconductor technologies to Beijing.
And speaking of China...Alibaba (BABA) reported third-quarter results that fell short of expectations. Still, Alibaba (BABA) shares received an immediate boost, which was credited in part to what were described as positive talks between U.S. President Joe Biden and Chinese leader Xi Jinping at the G20 Summit in Bali.
U.S. officials in Hong Kong also reportedly received "good access" to the audits of a handful of Chinese companies at risk of having their shares delisted from American stock exchanges if they don't comply with new U.S. regulations.
Apple's (AAPL) big iPhone partner, Foxconn, put a three-day halt on hiring at its massive facility in Zhengzhou due to a lack of quarantine space as part of a "closed loop" method aimed at reducing the number of new Covid-19 cases at the city-sized manufacturer.
Meanwhile, analysts at UBS said in a research report that wait times for Apple's (AAPL) new iPhone 14 have reached the "high end" of delivery periods due to a combination of supply chain issues and demand from consumers.
And in an effort to diversify its supply sources, Apple (AAPL) has reportedly decided to start sourcing its chips from a factory in Arizona.
Elsewhere in the tech sector:
Netflix (NFLX) got a boost as Bank of America analyst Jessica Reif Ehrlich reinstated coverage of the streaming TV giant with a buy rating and $370-a-share price target. Ehrlich said that with its new ad-supported subscription offering, and other initiatives, Netflix (NFLX) had a "strong runway" ahead for future growth.
The was more drama coming from Meta Platforms (META), which earlier this month said it would cut 11,000 jobs. Chief Executive Mark Zuckerberg told company employees that WhatsApp and Messenger would propel the company's growth going forward, and the company also reportedly fired several employees for improperly taking over the accounts of Facebook users.
And in the world of Twitter (TWTR)...Boss Elon Musk said he won't be the company's permanent CEO. However, as the week went on, reports swirled over just how many Twitter (TWTR) employees were around after hundreds of workers reportedly chose to quit their jobs instead of stay on and adhere to what Musk called an "extremely hardcore" work culture he intends to implement at the social-media company.