Big Tech earnings take over the market this week. Microsoft and Alphabet report on Wednesday, Oct. 28, and Amazon follows on Thursday, Oct. 29. The reports arrive after a rough stretch for AI-linked stocks, and investors want to know whether the spending is paying off. The schedule comes from TipRanks’ week-ahead calendar, and the Associated Press lists the same days for Alphabet and Amazon, as published by Daily Sabah.
The dates and consensus for Big Tech earnings
TipRanks lists analyst consensus estimates, which are forecasts and not company guidance. For Wednesday, it shows Microsoft at earnings of $4.71 per share on revenue of about $90.63 billion, reporting after the close, and Alphabet at $3.03 per share on about $127.91 billion. For Thursday, it shows Amazon at $1.97 per share on about $202.16 billion, after the close, and Intel at $0.40 on about $16.50 billion. Consensus figures move before the reports, so the actual results in each company’s own earnings release are the numbers to trust.
Why the AI trade is under pressure before Big Tech earnings
Charles Schwab’s market update described the mood last Friday. Semiconductor stocks sank 6.7% on Thursday and were down 15% for the month, with Meta’s spending concerns weighing on the group. Schwab’s Nathan Peterson said sentiment around the AI trade “continues to be under pressure,” according to Schwab. Meta’s own results and the legal charge that accompanied them are covered in our report on its stock split and quarter.
That raises the stakes for the companies reporting this week. TipRanks says investors will focus on AI spending, cloud growth and profitability. A strong quarter in this round of Big Tech earnings is less likely to move shares than guidance on how much more the companies plan to invest, and when it will show up as revenue.
The macro calendar around Big Tech earnings
The Federal Reserve announces its rate decision Wednesday, and the Bureau of Economic Analysis releases its first read on third-quarter growth Thursday at 8:30 a.m. ET, according to the BEA’s release schedule. We cover the numbers in our Q3 GDP and PCE preview, and the Fed’s last move in its Sept. 16 statement.
Editor’s take
One sentence about spending plans can move a nervous market. Index funds hold these companies in large weights, so Big Tech earnings matter even if you never trade individual stocks. Wait for the call transcripts and the companies’ own filings before drawing conclusions. This is general information, not financial advice.
