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Big Tech earnings test record stock market rally as AI spending takes center stage [MSNBC.com]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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US:NASDAQ Investor Relations: abc.xyz/investor
Market watchers looking for clarity about the direction of Big and the AI investment boom didn’t get much Wednesday afternoon amid a barrage of key earning reports.Instead, four leading tech companies reported quarterly results that beat Wall Street’s official forecasts but nevertheless fell short of the sky-high expectations investors have set for companies leading the AI revolution.Investors were most enthusiastic about the results of Google parent Alphabet, whose shares climbed as much as 6% in after-hours trading. The company reported earnings and revenue that beat analysts’ expectations and raised its estimate of how much it would spend on AI infrastructure.Earnings for parent Meta were greeted with less fervor. Its shares fell more than 5% after it said it expected revenue growth to stay flat in the second quarter.Amazon’s and Microsoft’s results and forecasts were more mixed. Investors ultimately sent both lower by about 3%.The major U.S. stock indexes are sitting near all-ti
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