Google and Tesla to Kick Off 'Magnificent Seven' Quarterly Earnings Results
Yahoo Finance reports that Alphabet (Google) and Tesla are set to lead this week's earnings reports for the 'Magnificent Seven' tech stocks, as investors remain divided over massive capital expenditure commitments for AI infrastructure. Intel will provide updates on AI demand, while IBM will offer a fuller picture after its stock plunged on pre-announced earnings. Other companies reporting include General Motors, AMC Entertainment, GE Vernova, AT&T, Lockheed Martin, and American Express. The second quarter earnings season began last week with strong bank profits from JPMorgan, Morgan Stanley, and Citigroup, but Netflix disappointed with a weak forecast. Overall, analysts expect a strong season, with FactSet data estimating a 24.7% year-over-year S&P 500 earnings growth rate for Q2, which would mark the second consecutive quarter of above-20% growth and the seventh straight quarter of double-digit growth.
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