Tech stocks will get their latest test this week amid a flood of earnings from the biggest names in the industry this week.
Results from Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), and Amazon (AMZN) highlight the calendar, while reports from key chipmakers like SK Hynix (SKHY) and Qualcomm (QCOM) also factor in.
All eyes will be on capital expenditures numbers after Alphabet’s (GOOG, GOOGL) capex guidance spooked investors who are growing concerned about free cash flow amid the AI spending boom.
On Tuesday, Apple’s market capitalization briefly surpassed the $5 trillion mark, making it just the second company to cross the milestone.
Meta, meanwhile, announced that it is entering into a $14 billion agreement with BlackRock to build a 1-gigawatt data center in Texas. Meta reports on Wednesday.
And Nvidia (NVDA) is reportedly in talks with OpenAI (OPAI.PVT) to provide $250 billion in financing for a data center project in Ohio, once again raising questions about circular financing in the AI industry.