Zacks.com released a list of companies likely to issue earnings surprises, including Microsoft, Meta Platforms, Apple, Amazon, Alphabet, and Nvidia. This week, we see the heart of the Q1 earnings season with more than 850 companies reporting results, including the Magnificent 7 members. Microsoft, Meta Platforms, Apple, and Amazon are set to report results this week, with strong performances expected. Alphabet reported strong results, raising its capex guidance, and the market expects Amazon, Meta, and Microsoft to follow suit. The AI debate continues, with a focus on capital expenditures and cloud business performance.
Alphabet’s strong results, especially in the cloud business, provide insights into what to expect from Microsoft, Amazon, and Meta this week. Search revenues for Alphabet were better than expected, easing concerns about the search business’s future in the AI world. Q2 earnings for the Mag 7 are expected to increase by 14% from the same period last year, with strong revenue growth as well. Positive revisions trend expected for the Mag 7 group after Q2 results are released this week.
Q2 earnings season shows positive trends with companies beating EPS and revenue estimates. Management commentary and outlook for Q3 are positive, with total S&P 500 earnings expected to increase in the coming periods. Earnings expectations for the Energy, Finance, Tech, Autos, and Consumer Discretionary sectors have seen significant gains. Total S&P 500 earnings for Q2 are expected to be up, with notable growth in various sectors.
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