Big Tech Earnings Season: AI Investment Divides M7 with Sharp Stock Movements

실적/어닝스 | Sat Aug 01 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 13 sources

Amazon, Microsoft, and Alphabet added $1.5 trillion in market cap on strong cloud results, while Apple, Meta, and Coinbase plunged on disappointing revenue and guidance.

Analysis

[Amazon] posted 37% AWS cloud growth and raised 2026 CapEx to $220 billion ^[10]^[11]^[5]

AWS revenue grew 37% year-over-year
marking the strongest growth rate since 2021
Raised 2026 AI infrastructure CapEx guidance to $220 billion
CEO Andy Jassy defended large-scale AI investments as stock surged
Market cap increased by over $400 billion during the week

[Microsoft] turned bullish on AI spending guidance, adding $600 billion in market cap ^[10]^[8]^[13]^[7]

Stock surged after earnings on reaccelerating cloud growth
Expanded AI-related CapEx guidance quieted bearish concerns
Market cap increased by over $600 billion during the week
Analysts viewed it as a turning point for the previously underperforming tech stock

[Alphabet] joined hyperscaler rally on strong cloud results ^[10]

Demonstrated strong cloud growth alongside Amazon and Microsoft
Market cap increased by over $400 billion during the week
The three hyperscalers combined contributed approximately $1.5 trillion in market cap gains

[Apple] lost $350 billion in market cap on weak guidance from memory supply shortage ^[10]^[4]

Revenue and iPhone sales exceeded market expectations
Current quarter revenue growth guidance of 9-11% fell short of the 12% expected
Memory component shortages and chip manufacturing capacity competition cited as causes
Raised Mac and iPad prices
with iPhone price increases anticipated
Stock fell over 7% on Friday
erasing more than $350 billion in market cap

[Meta] lost $85 billion in market cap as AI investment skepticism spread ^[10]^[6]^[8]

Investor confidence in AI investment strategy weakened after earnings
Market cap decreased by approximately $85 billion during the week
Analysts assessed that the stock's upside ceiling has been lowered
Disappointment amplified on the earnings call in contrast to Microsoft

[Coinbase] missed earnings for the third consecutive quarter with loss 8x larger than expected ^[3]^[12]

Loss of $1.36 per share was 8x larger than the expected $0.17 loss
Revenue of $1.2 billion fell short of the expected $1.3 billion and prior year's $1.5 billion
Missed revenue and earnings consensus for the third consecutive quarter
Subscription revenue of $555 million and transaction revenue of $599 million showed diversification progress
Stock fell over 7% in after-hours trading following earnings

[Olin] plunged 17.8% after swinging from expected profit to loss ^[2]

Revenue of $1.7 billion fell short of expected $1.8 billion
Expected $0.12 per share profit reversed to $0.12 loss
Chlor Alkali Products and Vinyls revenue decreased 14%
Epoxy grew 27%
Winchester grew 12%
Reflected $10.6 million in costs related to merger of equals with Huntsman
Merger closing expected in early 2027

[Eaton] signaled continued AI buildout in results and outlook ^[9]

Results and guidance suggested resilience of AI buildout
Stock surged

[US Economy] posted Q2 GDP growth of 1.5%, below expectations ^[1]

Q2 GDP growth of 1.5% fell short of market expectations
Signaled economic slowdown
forming backdrop for earnings season

[Coinbase Macro Environment] pressured crypto investor sentiment with high interest rates and market volatility ^[3]

High interest rate environment and market volatility weakened risk asset appetite
Sustained outflows occurred from Bitcoin ETFs
Bitcoin price largely remained range-bound

Big Tech Earnings Season: AI Investment Divides M7 with Sharp Stock Movements

Analysis

Sources