Microsoft and Google parent company Alphabet are set to report their earnings this week ahead of other big tech stocks reports. Investors await these reports hoping NASDAQ’s biggest half-year rally in four decades to continue. This comes after the accelerated emergence of AI-related tech.
Also reporting this week are Meta Platforms and Amazon.
Experts expect favourable results to bolster the AI-related hype and prove the value of rising stock prices. These big tech companies need to justify their elevated stock values by linking the new AI tech with revenue gains.
Analysts are hoping that the $800 billion spending on AI tech development will catapult software, chip and hardware production, keep big tech companies at the forefront of this tech boom, and keep stock prices soaring for investors.