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Infosys Shares Jump on Strong FY2026 Outlook, Lifting IT Stocks

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Shares of Infosys rose about 5% on Friday after the company unexpectedly raised its fiscal 2026 revenue forecast, boosting sentiment across India’s IT sector.

Infosys now expects revenue growth of 3%–3.5% in the year ending March 2026, up from its earlier 2%–3% outlook. The stock led gains on the Nifty 50, while the Nifty IT climbed 2.2%.

Analysts said AI-led partnerships and vendor consolidation are strengthening Infosys’s competitive position. The company has won AI-driven deals with Adobe and Siemens AG, and its large-deal order book rose to a two-year high of $4.8 billion.

At least three brokerages, including Jefferies, raised target prices after the results. The upbeat outlook follows comments from Tata Consultancy Services earlier this week pointing to solid demand in 2026, helping lift broader IT stocks, including Wipro.

Microchip Technology Raises Q3 Revenue Forecast on Strong Bookings and Market Recovery

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U.S. semiconductor maker Microchip Technology raised its forecast for third-quarter net sales on Monday, citing strong customer bookings and a broad-based recovery across end markets, sending its shares up 5.6% in after-hours trading.

The company said it now expects net sales of about $1.19 billion for the third quarter of fiscal 2026, exceeding its previous forecast range of $1.11 billion to $1.15 billion issued in November. In early December, Microchip had already indicated that sales were likely to come in at the upper end of that range.

Microchip has been benefiting from a gradual rebound in demand as customers work through excess semiconductor inventories accumulated during the pandemic, which had weighed heavily on orders in recent quarters.

“Our bookings activity was very strong in the December quarter despite a holiday-filled period,” Chief Executive Steve Sanghi said. He added that the company’s backlog for the March quarter started at a significantly higher level than the December quarter, signaling improved visibility for future demand.

The company also said it has made progress in reducing internal inventory levels, a move expected to lower inventory-related write-offs. At the same time, Microchip is preparing to ramp up factory production in the March quarter to reduce under-utilization charges as demand improves.

Microchip Technology is scheduled to report its fiscal third-quarter results on February 5.

Airbnb Shares Drop Over 7% Amid Slower Growth Outlook and Travel Demand Concerns

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Airbnb’s shares fell more than 7% on Thursday after the company projected slower growth in the second half of the year, raising concerns about a potential travel demand slowdown. This came as a disappointment to investors who had anticipated a rebound, especially after positive forecasts from major travel firms.

The company cited the impact of tariffs on its third-quarter margins, noting that the tariff shock in April led to a significant drop in bookings. The outlook contrasts with recent optimism in the travel sector, where United Airlines and Hilton Worldwide both predicted rising bookings and strong year-end revenue, and Booking Holdings reported robust quarterly results.

Airbnb said its weaker forecast was partly due to tough comparisons with last year, when a surge in bookings from Asia and Latin America boosted earnings. The platform expects growth in night bookings to slow year-over-year in the fourth quarter, with its implied take rate — revenue relative to gross bookings — likely staying flat in Q3.

So far in 2025, Airbnb and Expedia shares have each slipped 0.6%, while Booking Holdings has gained 11.4%. Valuation-wise, Airbnb trades at a forward price-to-earnings multiple of 28.41, compared to Booking’s 22.69 and Expedia’s 11.57.