Stock Market Today, April 29: Mixed Reactions as Big Tech Earnings Beat Expectations
All four megacap companies beat analyst estimates, but investors rewarded Alphabet and Amazon while selling Meta and Microsoft on AI spending concerns.
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The key takeaways from a massive day of tech earnings
From left: Meta's Mark Zuckerberg, Amazon's Andy Jassy, and Microsoft's Satya Nadella.Tom Williams/CQ-Roll Call, Inc (left), Kevin Winter (center), Sven Hoppe/picture alliance (right). All via Getty Images.This post originally appeared in the Business Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.There's no official leaderboard for AI spending in Big Tech, but companies are competing like there is one.Tech…
Stock Market Today, April 29: Mixed Reactions as Big Tech Earnings Beat Expectations
The S&P 500 (SNPINDEX:^GSPC) slipped 0.04% to 7,135.95, the Nasdaq Composite (NASDAQINDEX:^IXIC) inched up 0.04% to 24,673.24, and the Dow Jones Industrial Average (DJINDICES:^DJI) fell 0.57% to 48,861.81 as traders stayed cautious ahead of the Fed rate decision and megacap tech earnings after the bell.Market moversPayPal gained after announcing a major reorganization and designating Venmo as a standalone business unit. Seagate Technology and Bl…
Major tech companies report earnings amid AI bubble concerns
Four of the biggest tech companies reported earnings after the closing bell on Wednesday. Adam Levine, senior tech writer for Barron’s, joins CBS News to discuss. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations’ to…
The first-quarter results of the largest technology companies demonstrate both strength and tension in the sector. Four key companies – Meta Platforms, Alphabet, Microsoft, and Amazon – exceeded analysts' expectations. At the same time, the scale of investment in artificial intelligence is starting to raise clear concerns among investors. The article, "Big Tech Giants Beat Forecasts: AI Boosts Results and Raises Concerns," comes from the website…
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