Big Tech Earnings Today: MSFT, AMZN, META, GOOGL Set To Test Mag7's Incredible April Rally

• Big Tech results will set the tone for the market and board AI trade.
• The Roundhill Magnificent Seven ETF (MAGS) is heading for its best month on record.
• AMZN, META, MSFT and GOOGL stocks dropped marginally in Wednesday’s premarket session.

In a rare event, four of the biggest tech companies will report their quarterly results simultaneously after the market closes on Wednesday, with their financials and commentary set to shape the market and the broader AI trade.

AMZN, META, MSFT and GOOGL stocks were marginally lower in early premarket on Wednesday. On Stocktwits, the retail sentiment was ‘bullish’ for GOOGL, ‘bearish’ for META, and ‘neutral’ for MSFT and AMZN.

The results would also test the sharp rally in the so-called Magnificent Seven stocks, which have staged a strong rebound over the past month. The Roundhill Magnificent Seven ETF (MAGS), the fund which tracks this group, is up 15.4% and heading for its best month since its launch in December 2023.

The rally is support by gains in the adjoining chip sector – the iShares Semiconductor ETF (SOXX) is up 34% in April and is also heading for its best month on record.

All in all, the trades point to an optimistic setup heading into the bumper earnings. Of those reporting today, analysts appear to be the most optimistic about Microsoft.

About 95% analysts have a ‘Buy’ rating on MSFT stock, 93% on AMZN stock, 92% on METAs stock, 90% on GOOGL stock, according to Koyfin data. Here’s a handy cheat-sheet detailing analysts’ expectations:
 

Microsoft
Revenue: $81.43 billion, up 16%
Profit: $4.06 per share, up 17%
YTD move: down 11%

Alphabet
Revenue: $107.03 billion, up 19%
Profit: $2.63 per share, down 6%
YTD move: up 12%

Meta Platforms
Revenue: $55.55 billion, up 31%
Profit: $6.82 per share, up 6%
YTD move: up 2%

Amazon
Revenue: $177.17 billion, up 14%
Profit: $1.64 per share, up 3%
YTD move: up 5.2%

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