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📊 Big Tech Earnings: Who Won, Who Lagged & What Matters For You

This week’s results painted very different pictures across four tech giants:

🚀 Microsoft stood out — Azure growth sped up and AI uptake kept climbing, cementing its lead in enterprise AI.

📈 Amazon also smashed expectations: AWS strength, booming ads and better retail margins powered a sharp rally.

📉 Meanwhile, Apple and Meta faced selling pressure. Both have solid businesses, but investors worried about slow AI monetisation, rising capex, and near‑term profits.

Key takeaway: A falling price ≠ bad business; a rising price ≠ guaranteed win. Always look past the moves to the actual fundamentals.

I have packed weekly price action, key numbers, fundamental shifts and my take into the two infographics below— check them out for the full side‑by‑side breakdown! 👇

$Meta Platforms(META.US)$Apple(AAPL.US)$Microsoft(MSFT.US)$Amazon(AMZN.US)

Apple who is hailed as the king of supply chain where they manage to diversified supply chain and seek for the best price of components has to succumb to the high price of memory chip and shortage of advanced chip manufacturing for it's CPU, no thanks for explosive demand from AI. 2026Q3 earnings rose to US$109.42 billion, an increase of 16.4% which beats estimate of 15.5%. Customer grab more IPhones and Macbooks in anticipation of price increase. However what is worrying is the gloomy future forecast of slower sales due to supply constraint. Also impounding is App store showing slower growth, it rose 12.1% to US$30.74 billion, missing estimate of US$31.22 billion. Apple just reclaimed the title of the world's most valuable company and has risen 22% for this year alone they need to prove that they are still in control of what they used to manage flawlessly.

-iPhone 17 cycle added $36B incremental iPhone revenue through 1st 3 launch quarters, the third-biggest dollar cycle ever and 5x the prior 4 cycles combined.

Source: Sravan Kundojjala

Most of the Mag 7 companies have already reported earnings and they were evenly matched, with half of them impressing while the other half flopping. Microsoft and Amazon are set to set new best records up in a single trading day as the AI reversal demand is very much back underway.

Brand leverage is one of the most powerful value drivers in investing. Brand leverage is the extension of a strong established brand to a neighboring category, which if successful can expand the company’s overall TAM and Revenue base. Examples include Porsche’s extension of the Porsche brand from the sports coupe (911) to the SUV category (Cayenne, Macan); Apple’s extension of the Apple brand from laptops and desktops to cellphones and watches; Marriott’s extension of the Marriott brand in high-end hotels to the budget hotel category (Courtyard by Marriott).

Apple posted results slightly disappointing while Amazon smashed earnings through AWS and capital gain from Anthropic. In the long term, I still believe in Apple's fundamentals, but short term memory hikes will definitely impact its costs and eventually prices of Apple smartphones, tablets & laptops. Amazon on the other hand impressed with continuous cloud growth while increasing Capex, though ever so slightly.

$Apple(AAPL.US) Apple shares fell after a disappointing forecast showed that the iPhone maker was struggling to secure enough components as the AI-driven data center boom strains global supply chains. Tim Cook, widely hailed as a supply-chain genius, called the shortages “very significant” and said Apple had limited options to address them. If even at Apple’s scale they are saying they are out all supply chain flexibility, it’s really bad for everyone. Big Tech has been scooping up advanced chip-making capacity and memory chips to power its AI data centers, sparking shortages and price increases that are expected to shrink both the personal computer and smartphone markets this year. Apple had cushioned some of the blow from surging memory costs by drawing on stockpiled inventory, but Cook said that the buffer was fading and shortages of processors were keeping it from meeting strong demand for iPhones and Macs. Its forecast on Thursday for revenue growth of between 9% and 11% in the current quarter fell short of Wall Street’s roughly 12% estimate, and softer growth in its services business also overshadowed otherwise strong June quarter results. The slowdown could deepen if iPhone sales take a hit from a price increase that many analysts expect during the launch of the new lineup, which typically happens in September. @Captain's Treasure

US stocks rose (SPX +0.4%, NDX +1.0%) as a global chipmakers’ rebound led by SK Hynix (+30%) and Samsung (+21%) lifted South Korea’s Kospi by an unprecedented 18%. In addition, $Amazon(AMZN.US) ‘s strong earnings last night (+12% pre-mkt) eased AI spending concerns. Apple fell -7% on weak guidance, while $Alphabet - C(GOOG.US) and $Meta Platforms(META.US) gained. $Tesla(TSLA.US) +1.5% after the WSJ reported that TSLA is considering a potential separation of its China business to pave the way for a possible merger with $SpaceX(SPCX.US). $Rivian Automotive(RIVN.US) +4% after beating 2Q rev and EBITDA estimates and guiding to stronger FY’26 results on the initial strength of R2 SUV sales, RIVN’s cheaper $45K SUV that started deliveries in June. The chip rally followed Citadel buying discounted positions from the giant Situational Awareness hedge fund, which lost half its assets. Hyperscaler FY’26 AI CapEx guidance rose only modestly to ~$730B from $700B previously.

“AI wunderkind” takes heavy losses and clears his equity book—then Wall Street stages a sharp rebound.

Citadel swiftly took over Situational Awareness’s public-equity portfolio, triggering a broad rebound across the fund’s major holdings. Meanwhile, Amazon and Apple’s earnings reinforced the same message: the market is reassessing how efficiently every dollar of AI spending converts into revenue.

Tonight brings the U.S. Employment Cost Index, consumer sentiment data, and earnings from major energy companies. Our two-page pre-market brief gets you up to speed on the events, sectors, and movers that matter most before the opening bell.

Related stocks: $Amazon(AMZN.US)$Apple(AAPL.US)$Nebius(NBIS.US)$Bloom Energy(BE.US)$Sandisk(SNDK.US)

$GE Vernova(GEV.US)

Congrats to all who persevere through the tech rout.

In perspective, the SMH corrected nicely in a fourth wave pull back to a deep retrace of 50% which I am allowing taking into account the rule of alternation. The second wave in April this year was very shallow and quick!

My view of the day is on GEV which I consider the lower beta tech stalwart of my portfolio. It is the beneficiary of the tech infra roll out unlike Apple and hence is my choice.

She is in a B wave which has taken price deep to the 85.4 retrace at 898. Price has since rebounded to the lower trend line channel yesterday at 982. Premarket, it looks like about to reclaim that upon which a march to new highs in the coming weeks as a C wave beckons.

The probability of that increases upon price clearing 1100.

My targets for that are between 1368-1670.

@Captain's Treasure

🌟🌟🌟What a breathtaking, emotionally exhausting roller coaster of a week on Wall Street. Investors have been battered by whiplash, torn between the terrifying hawkish threats of new Fed Chair Kevin Warsh and the explosive high stakes drama of Big Tech earnings.

Just when we thought we have seen it all, the grand finale dropped: $Apple(AAPL.US)and $Amazon(AMZN.US)reporting side by side, exposing a stark dramatic contrast that has left the market reeling and completely rewriting the tech playbook.

This is no longer a market where a rising tide lifts all boats. It is a brutal unforgiving arena where actual cash flow is king and any signs of weakness is punished without mercy.

Take a deep breath over the weekend and prepare your cash reserves. The highly anticipated $SpaceX(SPCX.US)quarterly report and subsequent insider share unlock are arriving next week on August 4 to 6.

More drama ahead. There is never a dull moment in Wall Street.

MSFT adding $450B in a day shows the market is rewarding actual AI revenue, not just promises. That’s why semis snapped back +8-9% — MU, SNDK, SKHY double digits means memory pricing found a floor after July’s brutal drop. Worst month since 2001 → best bounce since then. With AMZN/AAPL/META all reporting, we’re finally getting separation. Money is flowing to who can monetize AI today.

MSFT +15% and +$450B in one day isn’t hype, it’s proof Azure AI is printing money at scale. That beat Nvidia’s record because enterprises are paying, not just building. Semis +8-9% with MU, SNDK, SKHY all double digits means memory pricing has bottomed and the July washout is over. AMZN/AAPL/META mixed just shows the market can tell winners from spenders now.

Congrats to all who saw the great discounts and grabbed the wonderful bargains. These kind of great sales happen once a year and it was about time for it to happen!

Well look at that. See what I mean when everyone wants to buy at the same time? Great discounts don’t last forever. The most daring first buyers who recognise value benefits the most. 😊

Many of the recent movements should be treated as noise. For investors, company fundamentals and sector growth and health should be the anchor for proper investment (not trading)

Markets are moving beyond AI hype, with greater focus on execution and measurable outcomes from AI investments. Companies that convert AI spending into sustainable revenue, earnings and cash flow are being rewarded, while those with uncertain returns face more demanding standards.

Singapore stocks pulled back as profit-taking in the banking sector weighed on the STI, but the move appears to be a healthy consolidation rather than a trend reversal. Singapore equities continue to offer long-term value, supported by stable earnings, attractive dividends and sound economic fundamentals.Fundamentals drive long-term performance, with patient investors using market pullbacks as opportunities to accumulate quality stocks

$Apple(AAPL.US) Solid quarter. Just not enough “wow” after a big run.