Tech Bulls Back in Driver Seat After Microsoft and Alphabet Blowouts
- Results from both megacaps reassured Wall St on AI trends
- Alphabet tops historic $2 trillion valuation as stock soars
Results from Microsoft Corp. and Alphabet Inc. reassured investors that AI can live up to its reputation as a potent driver of growth and sales.
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After a tense day of choppy trading on Wall Street, the Big Tech trade is back on in full force.
Results from Microsoft Corp. and Alphabet Inc. reassured investors that AI can live up to its reputation as a potent driver of growth and sales, setting the market on a more stable footing after a rocky start to the earnings season. The reports stood in contrast to Meta Platforms Inc., another AI favorite, which tumbled after it gave a weak sales forecast and said it would spend a lot more than expected this year.