Week Ahead: Big Tech set for big gains?

• 5 of “Magnificent 7” set to publish earnings

• Combined market cap of 5 tech titans over $12 trillion

• Looking past earnings, key focus on AI spending

• Meta could move over 7.3% ↑ or ↓ post earnings

• Apple richest company in the world reports results Thursday

Financial markets could end October with a bang thanks to market-moving events.

High-impact data from across the globe, a general election and rate decision in Japan coupled with earnings from tech titans will be in focus:

Sunday, 27th October

• JP225: Japan holds general election
• CN50: China industrial profits

Monday, 28th October

• CAD: Bank of Canada Governor Tiff Macklem speech

Tuesday, 29th October

• JP225: Japan unemployment
• SG20: Singapore unemployment
• SPN35: Santander earnings
• UK100: HSBC earnings
• US500: Alphabet earnings

Wednesday, 30th October

• CN50: Major Chinese banks earnings
• AU200: Australia CPI
• GER40: Germany GDP, CPI, unemployment, Volkswagen earnings
• UK100: UK Chancellor of the Exchequer presents budget
• USDInd: US GDP, ADP employment, pending home sales
• NAS100: Meta platforms, Microsoft earnings

Thursday, 31st October

• AU200: Australia building approvals, retail sales
• CN50: China manufacturing and non-manufacturing PMI
• EU50: Eurozone CPI, unemployment
• JP225: BoJ rate decision, industrial production, retail sales
• NAS100: Amazon, Apple earnings, US PCE report, initial jobless claims

Friday, 1st November  

• CN50: China Caixin manufacturing PMI
• UK100: S&P Global Manufacturing PMI
• US500: US NFP report, ISM manufacturing, Exxon Mobil earnings
• US30: Chevron earnings

It’s all about earnings from the tech giants after Tesla’s blockbuster results sent its shares rallying over 20%!

Despite this burst of positivity, US equities are heading for their first weekly loss in almost two months amid rising Treasury yields and political uncertainty.

Five of the “Magnificent” 7 tech giants with a combined market cap of over $12 trillion are set to publish their results in the week ahead.

This is what you need to know:

  1) Alphabet

Google parent company Alphabet reports its third-quarter earnings on Tuesday 29th October after US markets close.

The tech giant is expected to post revenue and income growth, supported by the cloud division of its business. A positive set of results could boost Alphabet shares, already up over 15% year-to-date. Beyond the revenue growth, updates on AI spending will be in focus.

Markets are forecasting a 5.5% move, either Up or Down, for Alphabet stocks post earnings.

  2) Microsoft

Microsoft reports its fiscal Q1 2025 earnings on Wednesday 30th October after US markets close.

Despite slipping almost 4% in Q3, its shares are still up roughly 13% year-to-date. In July, when reporting its Q4 results investors were disappointed by the Azure cloud services revenue growth. So much focus will be on cloud services growth, AI development and forward guidance.

Markets are forecasting a 4% move, either Up or Down, for Microsoft stocks post earnings.

  3) Meta Platforms

Meta is set to report third quarter earnings after US market close on Wednesday 30th October.

Its shares have gained 60% in 2024, taking the tech giants market cap to over $1.4 trillion. Back in Q2, Meta advertising revenues increased 22% – so investors may be seeking for similar results in Q3 to justify recent gains. Watch out for any fresh insight on AI projects including the upcoming Llama 4 set for released in 2025.

Markets are forecasting a 5.9% move, either Up or Down, for Amazon stocks post earnings.

  4) Amazon

Amazon will publish its third-quarter earnings after US markets close on Thursday 31st October.

Quarterly revenues are projected to rise $157.3 billion from $143.1 billion in the prior year, translating to a near 10% increase. Investors will direct their focus toward Amazon’s Web Services (AWS) and advertising business in addition to any updates on AI research.

Markets are forecasting a 5.9% move, either Up or Down, for Amazon stocks post earnings.

  5) Apple

The richest company in the world with a market cap of $3.5 trillion reports its Q4 earnings on Thursday 31st October after US markets close.

Apple is expected to post revenue and earnings growth but it’s all about the performance of iPhone sales. Despite the new iPhone 16 released in September, there have been reports that orders have been cut by 10 million units. Investors will be looking for fresh insight into this development along with any updates on its AI technology through Apple Intelligence features.

Apple shares are up almost 20% year-to-date with markets projecting a 2.6% move, either Up or Down, post earnings.