Big tech earnings today (July 30, 2026) split the market wide open.
1) Microsoft jumped 14% after beating on earnings. Azure crossed $100 billion in annual revenue for the first time, and Copilot growth impressed investors.
2) Meta fell over 9%. The company didn't give 2027 spending guidance and its cash pile shrank, which spooked the market on AI capex concerns.
3) Apple beat on both lines. EPS came in at $2.02 versus $1.89 expected, revenue hit $109.4 billion versus $108.65 billion expected, driven by a 22% jump in iPhone sales. But the stock slid around 4% after hours because services revenue missed estimates.
4) Amazon reported after the close too, with AWS growth reportedly around 31.6% keeping the cloud story strong. Full market reaction on Amazon was still coming in as results landed.
Overall theme: the market is rewarding real AI infrastructure payoff (Microsoft's Azure) and punishing spending without a clear payoff story (Meta), while Apple's hardware strength is being overshadowed by services softness.
(edited)Big tech earnings today (July 30, 2026) split the market wide open.
1) Microsoft jumped 14% after beating on earnings. Azure crossed $100 billion in annual revenue for the first time, and Copilot growth impressed investors.
2) Meta fell over 9%. The company didn't give 2027 spending guidance and its cash pile shrank, which spooked the market on AI capex concerns.
3) Apple beat on both lines. EPS came in at $2.02 versus $1.89 expected, revenue hit $109.4 billion versus $108.65 billion expected, driven by a 22% jump in iPhone sales. But the stock slid around 4% after hours because services revenue missed estimates.
4) Amazon reported after the close too, with AWS growth reportedly around 31.6% keeping the cloud story strong. Full market reaction on Amazon was still coming in as results landed.
Overall theme: the market is rewarding real AI infrastructure payoff (Microsoft's Azure) and punishing spending without a clear payoff story (Meta), while Apple's hardware strength is being overshadowed by services softness.
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