Among the megacap stocks, Alphabet , Amazon and Microsoft grew year-over-year, cloud-based revenue by 35%, 19% and 20%, respectively.
But of the five largest companies that have so far reported results — Meta Platforms , Alphabet, Amazon, Apple and Microsoft — only two finished the week higher.
META 5D mountain Meta, 5 days Commentary from some of the tech companies signaled that AI demand remains robust.
Amazon CEO Andy Jassy justified stepped up AI spending, saying that investors will be rewarded over the long haul.
AMZN 5D mountain Amazon, 5 days Meanwhile, the still enormous spending patterns among megacap technology companies signals no downturn for de facto AI leader Nvidia.
Persons:
Gene Munster, Sundar Pichai, Andy Jassy, Ray Wang, Wang, Mark Malek, Constellation's Wang, Satya Nadella's, Eric Clark, Clark
Organizations:
Microsoft, Apple, Constellation Research, Brands, Nvidia