Microsoft and Amazon shares surged following strong cloud growth and better-than-expected results. Microsoft recorded the largest single-day market value gain in history. These performances eased investor concerns regarding heavy artificial intelligence spending.
Meta, Alphabet, and Apple faced investor skepticism during the recent earnings cycle. Meta shares declined due to high capital expenditures. The company also reported lower free cash flow.
Alphabet stock fell initially as investors reacted to increased capex guidance. The firm also reported negative free cash flow despite strong revenue growth.
Apple shares dropped following a weaker-than-expected forecast. The company cited supply constraints and other headwinds despite beating earnings estimates.