Four of the largest public companies in the world report quarterly financial results this week, reports that could have a big impact on several sectors and market indexes. Here’s a look at the Magnificent Seven stocks reporting this week and what investors should expect.
Magnificent Seven Earnings
A week after Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) and Tesla Inc (NASDAQ:TSLA) kickstarted earnings season for the Magnificent Seven stocks, this week has four of the seven components reporting. These four companies are hoping for a better market reaction than Alphabet and Tesla got last week.
The reports this week are:
- Meta Platforms (NASDAQ:META): Q2 earnings, Wednesday after market close
- Microsoft Corporation (NASDAQ:MSFT): Q4 earnings, Wednesday after market close
- Amazon.com Inc (NASDAQ:AMZN): Q2 earnings, Thursday after market close
- Apple Inc (NASDAQ:AAPL): Q3 earnings, Thursday after market close
"Investors look for confirmation that massive AI investments are translating into stronger revenue growth, expanding margins, and sustained demand across cloud, advertising, devices, and e-commerce," Freedom Capital Markets Chief Market Strategist Jay Woods said of the four Magnificent Seven earnings reports in a weekly newsletter.
Woods said the company’s outlooks will be key to justify lofty valuations heading into the second half of 2026.
The market expert highlights that this will be the last quarterly report for Apple under CEO Tim Cook.
ETFs to Watch
The four earnings reports could put pressure on several market indexes and the exchange-traded funds (ETFs) that track them.
In the SPDR S&P 500 ETF Trust (NYSE:SPY), the four stocks make up 18%, with the following weightings:
- Apple: 7.8%, second largest holding
- Microsoft: 4.5%, third largest holding
- Amazon.com: 3.6%, fourth largest holding
- Meta: 2.1%, eighth largest holding
In the Invesco QQQ Trust (NASDAQ:QQQ), the four stocks make up 19.9% of assets, with Apple the second largest holding at 8.1% and all four being top 10 components.
Three of the four stocks are also members of the Dow Jones Industrial Average. The three stocks in the index make up the following holdings in the SPDR Dow Jones Industrial Average ETF (NYSE:DIA):
- Microsoft: 4.4%, fifth largest holding
- Apple: 3.8%, ninth largest holding
- Amazon.com: 2.7%, 17th largest holding
The earnings reports this week could make those indexes and ETFs volatile, along with sectors like technology, semiconductors, ecommerce, social media, telecommunications, and more.
What Earnings History Says, Key Items to Watch
Meta Platforms: Analysts are expecting the company to report revenue of $60.22 billion and earnings per share of $7.14, versus $47.52 billion and $7.14 year-over-year. The company has beaten analyst estimates for revenue in 15 straight quarters and for earnings per share in 13 straight quarters. Investors will be looking for growth among social media users and higher advertising rates, along with key commentary on capex spending.
Microsoft: Analysts are expecting the company to report revenue of $87.61 billion and earnings per share of $4.23, up from $76.44 billion and $3.65 year-over-year. The company has beaten analyst estimates for revenue in 13 straight quarters and for earnings per share in 15 straight quarters. Investors will be looking for growth in customer spending for AI and cloud products, along with commentary on capex spending going forward.
Amazon.com: Analysts are expecting the company to report revenue of $196.02 billion and earnings pre share of $1.82 versus $167.70 billion and $1.68 year-over-year. The company has beaten revenue estimates from analysts in seven straight quarters and in nine of the last 10 quarters overall. For earnings, the company has beaten analyst estimates in nine of the last 10 quarters, but only in one straight quarter. Investors will be watching for health in ecommerce revenue growth and international growth overall. The company’s AWS segment has also posted several strong quarters in a row and expectations are likely high for this area once again. Commentary on capex spending will also be closely watched.
Apple: Analysts are expecting the company to report revenue of $108.86 billion and earnings per share of $1.89 versus $94.04 billion and $1.57 year-over-year. The company has beaten analyst estimates for revenue in 13 straight quarters and for earnings per share in 13 straight quarters. Investors will be watching for commentary on AI spending, updates on upcoming iPhones and commentary on the CEO transition from Tim Cook to John Ternus.
Stock Price Action
Here’s a look at the current stock prices and performances for year-to-date in 2026 and over the last 52 weeks.
- Meta: $603.22, YTD -7.4%, 1-Year -16.0%
- Microsoft: $390.65, YTD -17.4%, 1-Year -23.8%
- Amazon.com: $234.72, YTD +3.6%, 1-Year +0.8%
- Apple: $335.63, YTD +23.8%, 1-Year +56.7%
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