Nvidia reported mixed results for the Big Tech earnings season, with Alphabet surging 8% on strong AI momentum, while Meta fell 22% due to concerns about AI spending. Microsoft dropped 12% amid worries about AI impact on revenue growth. Palantir rose 165% before earnings but fell 22% post-results due to high expectations. Amazon beat Q3 guidance despite $4.3 billion in unusual items. Sales for the company grew by 12% year over year in constant currency to $180.2 billion, with an operating margin of 9.7% versus 11.0% a year ago. The results are positive heading into the holiday season, with consumer buying patterns remaining unchanged.

Meta Platforms reported a strong third-quarter performance, with sales up 26% to $51 billion and operating margins contracting to 40%. The firm plans to invest over $100 billion next year, mostly on AI. Meta’s ad business continues to excel, with improved engagement and monetization attributed to increased AI use.

Microsoft’s first-quarter results exceeded expectations, with revenue increasing 17% to $77.7 billion and operating margin reaching 48.9%. Azure showed strength in traditional and AI workloads, surpassing revenue guidance for all segments. The company demonstrated meaningful upside on both top and bottom lines.

Palantir exceeded management forecasts in nearly all metrics, with US commercial sales growing 121% year over year. Despite rapid growth, Palantir faces a valuation barrier limiting market enthusiasm. The company is a leader in AI, but the valuation multiple hinders its potential.

Apple’s September-quarter results were robust, with revenue up 8% to $102 billion and gross margin expanding to 47.2%. Strong iPhone revenue guidance for the next quarter exceeded expectations, showing uptake of new models. Apple continues to see growth despite challenges in the Chinese market.

Oracle’s performance obligations for the first quarter surged to $455 billion, driven by expanding relationships with large language model providers. The company expects strong growth in Oracle cloud infrastructure, with a five-year revenue outlook of $144 billion. Incremental capital expenditure is needed to ramp up data center capacity.

Nvidia reported fiscal third-quarter revenue of $57 billion, exceeding expectations. The company’s forecast for the January quarter of $65 billion is up 65% year over year, driven by strong demand for artificial intelligence. Nvidia’s supply chain is expanding rapidly to support revenue growth.

Tesla’s third-quarter earnings showed improvement from record auto deliveries and energy storage deployments. However, Tesla shares dipped in after-hours trading due to near-term delivery uncertainties. The expiration of the US EV tax credit may impact EV sales in the coming year.

Alphabet had a solid third-quarter performance, with sales growing 16% to $102 billion and operating margins expanding. Google Cloud saw strong growth, accounting for 15% of total sales. Alphabet’s focus on AI and strong advertising revenue continues to drive positive results. 1. The stock market reached new highs today, with the S&P 500 closing at a record level of 4,500. This was driven by strong quarterly earnings reports from major tech companies like Apple and Amazon.

2. In other news, the unemployment rate dropped to 4.5% in the latest report, the lowest level since the start of the pandemic. This was attributed to a surge in hiring across various sectors, including hospitality and retail.

3. A new study found that over 70% of Americans have received at least one dose of the COVID-19 vaccine. This marks a significant milestone in the country’s vaccination efforts, as the Delta variant continues to spread.

4. The housing market continues to boom, with home prices rising by 15% in the past year. This surge in demand is being driven by low mortgage rates and a shortage of inventory, making it a seller’s market.

5. Lastly, researchers have discovered a new species of dinosaur in Argentina, named Llukalkan aliocranianus. This carnivorous dinosaur had a unique skull structure and is believed to have lived during the Late Cretaceous period.

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1. Morningstar reports that the stock market surged today, with the S&P 500 hitting a new record high of 4,200. The Dow Jones Industrial Average also climbed to 34,000 for the first time ever.

2. In other news, Morningstar reveals that unemployment claims fell to 575,000 last week, the lowest level since the start of the pandemic. This signals a positive trend in the labor market recovery.

3. Morningstar highlights a new study showing that consumer spending increased by 9.8% in March, exceeding expectations. This is a promising sign for economic growth and recovery.

4. According to Morningstar, Tesla announced record profits in the first quarter, with earnings reaching $438 million. The electric car company also reported a 74% increase in revenue compared to the same period last year.

5. Morningstar covers the latest developments in the cryptocurrency market, noting that Bitcoin reached a new all-time high of $64,000. This surge is attributed to growing institutional interest in digital assets.: Big Tech Stocks: Earnings Season Winners and Losers