MarketWatch reported April 26 that Alphabet, Microsoft, Amazon and Meta are scheduled to report results after the close April 29 (Korea time: the morning of April 30). Apple is set to report after the close the next day (Korea time: the morning of May 1).
U.S. stocks have continued to rise despite instability in the Middle East. The Standard & Poor’s 500 and the Nasdaq have climbed for four straight weeks, extending runs of record highs. Analysts say Big Tech has been central to the rally.
Tech stocks are widely viewed as relatively defensive. Even if growth concerns increase, solid earnings can support sentiment, and if geopolitical risks rise, the sector is seen as less exposed to the impact of higher oil prices. Garrett Melson, a portfolio strategist at Natixis Investment Managers Solutions, said tech stocks are set up to “win either way,” arguing that strong results can underpin confidence even if the U.S. economy slows.
The largest technology names — Apple, Microsoft, Alphabet, Nvidia, Amazon, Tesla and Meta, often called the “Magnificent Seven” — have remained core holdings for many investors on expectations of artificial intelligence-driven growth. Related exchange-traded funds have rebounded sharply in April, recovering much of their earlier losses.
Kevin Shaye, chief strategist at BNY Wealth, said April trading reflected the view that tech valuations were attractive and that the fundamentals of the AI ecosystem remained positive even as war raised questions about a cyclical recovery. He said large-cap tech has again drawn buying and led the market, adding that the sector’s growth drivers are more structural than macroeconomic.
MarketWatch said whether that optimism holds may depend on this week’s earnings. Matt Weller, head of research at StoneX, said the key issue this season is not the size of AI and data center spending itself, but the profitability of that investment. With Big Tech companies having poured large sums into data centers and AI infrastructure, he said investors want evidence it is translating into returns.
The Federal Reserve’s interest-rate decision, also due the same day, is another factor. Markets largely expect rates to be held at current levels, but uncertainty remains over the selection of a successor to Chair Jerome Powell and the direction of policy.
MarketWatch said earnings that meet expectations could help extend the rally, while disappointing results could increase volatility.
* This article has been translated by AI.
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