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(Bloomberg) -- The Magnificent Seven group of megacap technology stocks is on track for its biggest one-day drop since the tariff tantrum in April 2025 as results from Alphabet Inc. and Tesla Inc. are casting doubt on the durability of the artificial intelligence trade that has powered the stock market for more than three years.Most Read from BloombergRetina Chip Designed to Restore Sight to Go on Sale in EuropeHegseth Turns to UNC, Virginia Tech After Dropping Ivy LeagueApple Plans Overhaul of
$888.2 billion That's how much the Mag Seven tech stocks have collectively lost in market value today, as of midday trading. It's the biggest one-day market cap decline for those names since the tariff turmoil of April 2025.
A Senate China probe, AI spending fears, and fresh layoffs are hitting Amazon stock just one week before a quarter that Wall Street expects to be strong. Something does not add up, and earnings may force a reckoning either way.
Investing.com -- Alphabet burned $5.9 billion in free cash flow in the second quarter of 2026—its first cash burn on record. Tesla burned another $1.1 billion. Together, the two reports have crystallized a fear that has been building all year: Big Tech's AI infrastructure build-out is consuming capital faster than it can generate returns.
The European Commission fined Google the equivalent of about $1 billion Thursday for manipulating its search results to hurt competitors and blocking app developers from directing customers to cheaper deals outside its Play store.
Several Indian digital payments firms have opposed a proposal that would allow merchants to store customers' preferred Unified Payments Interface option for one-click checkouts, arguing it could entrench the dominance of the bigger payment apps. In a July 23 letter reviewed by Reuters, the companies told the National Payments Corporation of India (NPCI), which oversees the UPI network, that the proposal could "adversely impact" competition. NPCI and the companies did not immediately reply to Reuters' requests for comments.
R.K.C. had already settled with YouTube, TikTok, and Snap, leaving Meta as the sole defendant ahead of jury selection
I have covered each of the following four stocks separately over the past few weeks:Micron's historic earnings. Intel's painful turnaround. AMD's server CPU advantage heading into August 4. Applied Materials' wafer equipment supercycle. On July 21, Jim Cramer put them all in the same basket with a ...
Earnings dominated the narrative in the U.S. markets on Wednesday, with Alphabet, Tesla, and IBM reporting Q2 results.
A clip from an old Lex Fridman podcast interview with Mark Zuckerberg is making the rounds on X (the former Twitter), and the timing of its revival is the most interesting part of the story. The clip shows Zuckerberg praising Elon Musk's overhaul of Twitter at a moment when the two men were in the ...
Google parent company Alphabet posted 24% revenue growth year-over-year in the second quarter, fueled by its booming cloud business, but the company continued to burn through cash building data centers for artificial-intelligence computing. Alphabet’s sales came in at $119.8 billion, exceeding analyst expectations. Net income for the April-June period was $112.1 billion, also ahead of analyst expectations.
A closely watched social media addiction lawsuit that had been set to go to trial next week has been dropped after the plaintiff voluntarily dismissed his claims against Meta, leaving none of the major tech companies facing trial in the case.
3M beat second-quarter estimates and raised full-year adjusted EPS guidance following its AI infrastructure partnership with Microsoft.
A Florida teen suing social-media platforms over claims their design led to mental health issues dropped his lawsuit against Meta Platforms ahead of a trial slated to begin next week in Los Angeles.
Alphabet shareholders await results from the first of the Magnificent Seven stocks.
A Florida teen dropped his lawsuit on Wednesday against Meta Platforms, canceling a Los Angeles trial over claims the social media company's apps caused his depression and anxiety. The trial, which had been slated to begin on Monday, was expected to be the second trial in thousands of lawsuits that have been consolidated in California state court over claims social media companies designed their platforms to be addictive to children, spurring a youth mental health crisis. The lawsuit, brought by a 15-year-old boy known as R.K.C. who started using social media when he was 8, originally named four defendants: Google's YouTube, Meta's Instagram, Snap Inc's Snapchat and ByteDance's TikTok, but YouTube and TikTok settled in June.
Will an announcement on Meta's earnings call lead to a surge in the stock price?
(Bloomberg) -- OpenAI plans to spend tens of billions of dollars on a massive new data center near Savannah, Georgia as part of the ChatGPT maker’s push to keep up with surging demand for artificial intelligence software. Most Read from BloombergTrump’s 100% Generic Drug Duty Threatens US Low-Cost SupplyApple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur SalesTrump Extends Pardons to Companies, Echoing a 17th Century KingSpaceX Set to Unlock $116 Billion in Shares After IPO Rest
AI tokens have become a major focus as some companies were hit by "token shock" from Anthropic and OpenAI model.
By Daniel Wiessner July 22 (Reuters) - A novel lawsuit claiming that Meta Platforms relied on discriminatory AI tools to select employees for layoffs highlights the problems workers face in suing
(Bloomberg) -- Investors who spent weeks watching US stocks go nowhere are pinning their hopes for a breakout on a key pillar of the four-year bull run: corporate earnings. Most Read from BloombergTrump’s 100% Generic Drug Duty Threatens US Low-Cost SupplyApple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur SalesTrump Extends Pardons to Companies, Echoing a 17th Century KingSpaceX Set to Unlock $116 Billion in Shares After IPO Restrictions LiftTreasury Flags Concern Over ‘Potenti
July 22 (Reuters) - U.S. stock index futures dipped on Wednesday, pressured by weakness in chip stocks, as investors remained cautious ahead of the first batch of Big Tech earnings that could decide
Alphabet will report second quarter earnings after the stock market closes Wednesday. Analysts expect capex for the quarter to be $45.1 billion, a 101% increase from a year earlier.