Big week for the US tech sector

Investors are heading into one of the busiest weeks of the earnings season, with results from the biggest names in technology — Microsoft, Alphabet, Meta, Apple and Amazon — all due in the coming days.

Despite concerns about trade tensions, credit-market volatility and the ongoing government shutdown delaying key U.S. economic data, corporate earnings have been surprisingly strong. According to LSEG, 86% of the 130 S&P 500 companies that have reported so far this season (as of October 23) have beaten analysts’ estimates.

This week’s lineup will also coincide with a pivotal Federal Reserve interest rate decision and a high-stakes meeting between President Trump and China’s President Xi Jinping. With fewer economic indicators available, investors will rely heavily on these tech giants’ results for clues about the health of both the corporate sector and the broader economy.

Let’s take a closer look at what to expect.

Microsoft: Can cloud and AI keep the momentum going?

Date: 29/10/2025 post market.

EPS Estimate: $2.28.

Revenue Estimate: $100.10B.

Microsoft posted another strong quarter in July, with fiscal fourth-quarter revenue climbing 18% year-over-year to $76.44 billion, and net income jumping to $27.23 billion, or $3.65 per share, beating estimates. The company’s cloud division remained the main growth driver, supported by sustained demand for AI-related services.

For the upcoming report (October 29, post-market), analysts expect EPS of $2.28 and revenue of $100.10 billion. Traders will pay close attention to capital expenditures, which Microsoft projected at around $30 billion last quarter to meet surging AI infrastructure demand.

With continued shortages in data center capacity and competition intensifying in AI and cloud services, investors will be watching whether Microsoft can maintain its double-digit growth while managing costs. The results will be an important signal for both AI sentiment and the overall tech sector.

Daily Microsoft Chart – Source: ActivTrader

Alphabet: Can Ad Headwinds slow the search giant’s momentum?

Date: 29/10/2025 post market.
EPS Estimate: $3.66.
Revenue Estimate: $75.39B.

Alphabet exceeded expectations last quarter, reporting revenue of $96.43 billion (vs. $94 billion expected) and earnings per share of $2.31 (vs. $2.18 expected). The company’s Google Cloud revenue surged 32% year-over-year to $13.62 billion, while YouTube ad revenue reached $9.8 billion, both stronger than anticipated.

However, investors were surprised by the company’s decision to sharply increase capital spending. Alphabet raised its 2025 CapEx target to $85 billion, up from the previously planned $75 billion, as it expands its AI infrastructure.

For the upcoming report (October 29, post-market), analysts expect EPS of $3.66 and revenue of $75.39 billion. Market participants will focus on advertising trends, particularly any slowdown following last year’s election-driven boost, as well as cloud growth and traffic acquisition costs (TAC). Alphabet’s ability to balance heavy AI investment with profitability will be a key concern for traders this quarter.

Daily Alphabet Chart – Source: ActivTrader

Meta platforms: Will big AI investments deliver results?

Date: 29/10/2025 post market.
EPS Estimate: $6.66.
Revenue Estimate: $49.39B.

Meta reported impressive second-quarter results, with earnings per share of $7.14 (vs. $5.92 expected) and revenue of $47.52 billion (vs. $44.80 billion expected). The company’s ad revenue surged 22% year-over-year to $46.56 billion, helping net income rise 36% to $18.34 billion.

Meta raised its full-year capital expenditures guidance to a range of $66–72 billion, as it accelerates data center construction and AI development. For the third quarter, Meta guided revenue between $47.5 billion and $50.5 billion, ahead of Wall Street’s $46.14 billion estimate.

With its next report due on October 29 (post-market), analysts expect EPS of $6.66 on revenue of $49.39 billion. Traders will be looking for signs that Meta’s massive AI spending is translating into tangible efficiency gains and stronger ad performance. Any indication of slowing ad demand or rising costs could weigh on investor sentiment.

Daily Meta Platforms Chart – Source: ActivTrader

Apple: Will AAPL shares hit a new record high?

Date: 30/10/2025 post market.
EPS Estimate: $1.77.
Revenue Estimate: $102.09B.

Apple delivered its strongest quarterly performance since 2021, with total revenue up 10% year-over-year to $94.04 billion, far exceeding expectations. iPhone sales rose 13% from the previous year, while earnings per share reached $1.57, well above forecasts.

Recent data from Counterpoint showed strong early sales for the iPhone 17 series, which outperformed last year’s model by 14% in its first 10 days on the market across the U.S. and China. Apple’s stock recently touched an all-time high, bringing it close to a $4 trillion market valuation.

For the upcoming results (October 30, post-market), analysts expect EPS of $1.77 and revenue of $102.09 billion. Traders will be watching for updates on AI integration, iPhone 17 demand, and Apple’s strategy to manage potential U.S. tariffs on Asian manufacturing. With investor optimism high, Apple will need another solid report to justify its recent rally.

Daily Apple Chart – Source: ActivTrader

Amazon: Can AWS and Ads keep fueling growth amid heavy AI spending?

Date: 30/10/2025 post market.
EPS Estimate: $1.56.
Revenue Estimate: $177.72B.

Amazon topped expectations last quarter, posting earnings per share of $1.68 (vs. $1.33 expected) on revenue of $167.7 billion (vs. $162.09 billion expected), a 13% year-over-year increase.

Amazon Web Services (AWS) remained the biggest profit driver, growing 18% year-over-year to $30.87 billion, though still trailing Microsoft’s Azure (up 39%) and Google Cloud (up 32%). Meanwhile, advertising revenue jumped 23% to $15.69 billion, making Amazon the third-largest digital ad platform after Meta and Alphabet.

For the current quarter, Amazon guided operating income between $15.5 billion and $20.5 billion, below Wall Street’s $19.48 billion estimate, and revenue between $174 billion and $179.5 billion. Analysts expect EPS of $1.56 on revenue of $177.72 billion when it reports on October 30 (post-market).

Investors will focus on whether Amazon’s $100 billion AI investment is starting to pay off, as the company builds out new data centers and machine learning tools. Any signs of slowing cloud demand or weaker guidance could reignite concerns about rising costs and competition.

Daily Amazon Chart – Source: ActivTrader

Sources: Wall Street Journal, Reuters, CNBC, Seeking Alpha, Investopedia

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