Amazon, Meta, Microsoft Stocks Rise After Strong Earnings Reports
On Monday, stocks of major AI hyperscalers like Amazon (AMZN), Microsoft (MSFT), and Meta (META) surged following strong earnings reports. Microsoft reported record cloud revenue with Azure sales exceeding $100 billion annually for the first time, while Amazon noted its AWS growth at a 36.7% rate in Q2—the fastest in nearly five years. Oracle's stock also rose sharply after underperforming earlier this year due to concerns over AI spending and reliance on OpenAI. Meta’s stock rebounded from losses following mixed earnings results last week, where it missed estimates but beat advertising revenue expectations. Google (GOOG) shares recovered as well after raising its capital expenditures guidance for the year. The positive reports have eased investor worries about hyperscalers' heavy spending in AI infrastructure and when returns will materialize. The market reaction highlights renewed confidence in these tech leaders, with Amazon's stock pushing past a $3 trillion valuation mark.
Tickers: $AMZN $GOOG $GOOGL $META $MSFT $ORCL
Topics: AI capital expenditures cloud computing market cap growth