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- 👉 5 of the "Magnificent 7" Are Reporting
👉 5 of the "Magnificent 7" Are Reporting
Alphabet, Amazon, Apple, Meta, Microsoft
Austin Hankwitz
28 Oct
Welcome to your new week.
The biggest earnings reports are HERE! Let’s get you ready for this week in the markets.
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Key Earnings Announcements:
Five of the ‘Magnificent Seven’ companies are set to report earnings: Alphabet, Amazon, Apple, Meta, & Microsoft.
Monday (10/28): Ford, Onsemi, Phillips, Waste Management
Tuesday (10/29): Advanced Micro Devices, Alphabet, Chipotle, Chubb, McDonald’s, Mondelez International, PayPal, Pfizer, SoFi, Super Micro Computer, Visa
Wednesday (10/30): AbbVie, Amgen, Automatic Data Processing, Booking Holdings, Caterpillar, Eli Lilly, Meta, Microsoft
Thursday (10/31): Altria, Amazon, Apple, Bristol-Myers Squibb, Comcast, ConocoPhillips, Eaton, Intel, Linde, Mastercard, Merck, Regeneron, Uber
Friday (11/1): Chevron, Exxon Mobil
What We’re Watching:
Meta Platforms (META)
Meta’s (+62% YTD) upcoming earnings call is set to showcase its powerful advertising ecosystem and expansive user base of 3.3 billion — driven by rising ad impressions, engagement, and advertiser demand.
Enhanced by Meta AI and a strong recommendation algorithm, user engagement is reaching new highs — setting the stage for consistent mid-teens earnings growth. New revenue streams are also emerging, with product expansions in WhatsApp, Llama, Threads, and AR/VR.
Despite valid concerns around rising expenses and CAPEX, Meta's strategic pivots and operational discipline have paid off, making it one of the best-performing big-tech stocks over the past two years. Investors are watching for updates on Meta’s ad load, user metrics, and recommendation system powered by machine learning.
“The main theme in the foreseeable future though, remains Meta Advantage. Meta is constantly adding more and more capabilities to this AI-driven platform for advertisers, which enables automated ad campaigns, including optimization, targeting, creative, and more. This should be the number one driver for increasing demand from advertisers in the near-to-mid term.”
Meta Platforms, Inc (META) Stock Performance, 5-Year Chart, Seeking Alpha
Microsoft (MSFT)
Microsoft's (+14% YTD) upcoming earnings call will be packed with updates on Azure's cloud growth, generative AI advances, and new investor metrics.
Recent announcements further highlight Microsoft's solid financial footing. Last month — the board approved a quarterly dividend increase to $0.83 per share (a +10% bump payable December 12) and introduced a new $60 billion share repurchase program.
Microsoft's double-digit revenue growth, expanding EBITDA margins, and strategic R&D investments keep it firmly positioned as a leader in AI and cloud — with key partnerships like its $30 billion AI fund with BlackRock and NVIDIA enhancing this momentum.
Analysts want to hear more about how Microsoft is exploring new AI monetization through autonomous AI agents in Copilot Studio and Dynamics 365.
“The tech giant is expected to report revenues of $64.57 billion for the first quarter of fiscal year 2025. Microsoft’s Productivity and Business Processes unit is expected to report revenue of $23.6 billion, its Intelligent Cloud unit is expected to report $26.8 billion, and its Personal Computing unit is expected to report $14.1 billion in revenue for the quarter, according to estimates. The company is expected to report earnings per share, or EPS, of $3.11 for the first quarter”
Microsoft Corp (MSFT) Stock Performance, 5-Year Chart, Seeking Alpha
Investor Events / Global Affairs
This is one of the last big weeks of the year for conferences as we quickly approach the holiday season. This week we will see: GenAI Summit in Silicon Valley, Binance Event in Dubai, and TechCrunch Disrupt in San Francisco.
GenAI Summit in Silicon Valley
The three-day GenAI Summit in Silicon Valley will bring together top tech innovators and AI visionaries — with Microsoft and Amazon among the key participants. Running from Nov 1st-3rd, the summit will feature keynote speeches from influential leaders in AI, providing deep insights into the latest advancements in generative AI.
Exhibitors will have the unique opportunity to showcase their groundbreaking products and services to an engaged audience of over 10,000 attendees, including 150 speakers, 500 startups, 1,000 founders and CEOs, 20 international media outlets, and more than 2,000 developers dedicated to generative AI's future.
Binance Blockchain Event in Dubai
Source: Binance
Binance Blockchain Week Dubai 2024, held from October 30-31, brings together top voices in the blockchain world under the theme 'Momentum' to explore the industry’s recent strides and future potential. Day One opens with insights from Binance CEO Richard Teng and Dubai Future Foundation’s H.E. Khalfan Belhoul, followed by discussions on a global crypto economy blueprint with leaders like Dr. Marwan Alzarouni. Afternoon sessions dive into Web3 adoption challenges, the role of generative AI, and emerging blockchain infrastructure trends, featuring notable figures like Elliptic’s Tom Robinson and The Sandbox’s Sébastien Borget.
On day two, the focus shifts to public perception, data analytics, and effective onboarding strategies — led by experts from Solana and TikTok. Later, the spotlight turns to the future of digital currency with Circle’s Jeremy Allaire and the evolution of decentralized trading, gaming, and Web3 accessibility. The conference concludes with a closing session by Polygon’s Sandeep Nailwal — leaving attendees with a fresh perspective on scaling blockchain for the mainstream.
Even if you don’t care about Binance or any of these companies — these are the types of events that can have a material impact on the crypto market. We’ll be reporting back on any worthwhile updates that may come out of the event.
Techcrunch Disrupt in San Francisco
TechCrunch Disrupt, happening October 28-30 in San Francisco, is set to spotlight the latest tech innovations and industry shifts with insights from influential leaders. Central to the event is the Startup Battlefield 200 — where 200 early-stage startups showcase their cutting-edge advancements and 20 finalists will try to claim a $100,000 grand prize.
Attendees can expect a lineup of notable speakers, including GM CEO Mary Barra, Slack CEO Denise Dresser, Rocket Lab CEO Peter Beck, and Khosla Ventures Founder Vinod Khosla. There will range of activations, roundtables, and networking events that could yield market-moving news and quotes as well.
Major Economic Events:
Reports on US GDP growth and unemployment take center stage this week.
Monday (10/28): N/A
Tuesday (10/29): October Consumer Confidence, S&P Case-Shiller home price index, September Job Openings
Wednesday (10/30): ADP Employment, GDP
Thursday (10/31): Core PCE, initial jobless claims, pending home sales, PCE Index, personal income growth, personal spending growth
Friday (11/1): ISM manufacturing, October auto sales, October Manufacturing PMI, US hourly wages growth, US unemployment
What We’re Watching:
U.S. Q3 GDP
The U.S. economy grew at an annualized rate of +3.0% in Q2 2024, holding steady with the previous estimate and marking a significant rise from the revised +1.6% expansion in Q1. The primary drivers of this growth were consumer spending, private inventory investment, and nonresidential fixed investment. Imports also increased, reflecting higher demand.
Economists have a median forecast of +3.2% for this week’s first Q3 2024 GDP reading.
The Atlanta Fed has a lower expectation…
"After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of third quarter real gross private domestic investment growth decreased from 3.2 percent to 2.7 percent.”
U.S. Unemployment
U.S. unemployment fell to 4.1% in September 2024, marking the lowest rate in three months and beating market expectations, which had anticipated no change from August's 4.2%.
The job market showed strength, with the number of unemployed individuals dropping by 281,000 to 6.834 million, and employment levels rising by 430,000 to reach 161.864 million.
"After two hurricanes, a strike, and rolling furloughs, we anticipate a lot of noise in next Friday’s October employment report.”
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