News
The day at a glance · 3 min read
Mood · Cautious
+15
Sentiment, −100 to +100
Meta Q1 Share Decline
5.6%-5.6%
UBS META Price Target
$908from $872
Amazon Q1 Revenue
$181.5Bbeat
Key driverQ1 earnings season reveals diverging investor reactions to AI infrastructure spending and smartphone market recovery signals
Daily briefTech Sector· Money365.Market AI ·

Big Tech Earnings Mixed; AI Chips Drive Qualcomm Surge

Meta capex concerns offset AWS strength; Qualcomm jumps on smartphone recovery optimism and OpenAI chip partnership reports

Big Tech Earnings: Mixed Results

Neutral

AWS Growth

28%+28%

Amazon AI Chips Run Rate

$20B
METAAMZN
Meta Platforms ($META) reported Q1 earnings that beat estimates but shares declined 5.6% on a slight revenue miss and raised capital expenditure guidance that heightened investor concerns about AI infrastructure spending.
UBS previously raised its price target on $META to $908 from $872 while maintaining a Buy rating, highlighting generative AI as a key revenue driver for the company. Meanwhile, Amazon ($AMZN) delivered Q1 revenue of $181.5B that beat estimates, but EPS of $1.56 missed expectations and cautious guidance weighed on sentiment.
Amazon Web Services surged 28% year-over-year, and the company disclosed its AI chips have reached a $20B run rate, underscoring strong demand for cloud AI infrastructure.
Cathie Wood loaded up $74 million into $AMZN stock, signaling fresh conviction following the earnings report.

AI Chips & Semiconductors

Bullish

Qualcomm Premarket Jump

10.3%+10.3%

TSMC Arm Stake Exit

$231M

Broadcom 1-Year Gain

110%+110%

Broadcom 5Y Forward EPS

41%
QCOMARMAVGO
Qualcomm ($QCOM) shares jumped 10.3% in premarket trading as investors focused on CEO optimism about a smartphone market recovery and expanding data center opportunities, despite a weak third-quarter forecast. CEO Cristiano Amon told Reuters the company expects the smartphone market to recover after its fiscal third quarter, addressing concerns about cyclical handset demand. Separately, $QCOM shares had risen earlier after analyst Ming-Chi Kuo stated that industry checks indicate OpenAI is working with MediaTek Inc. and Qualcomm to develop smartphone chips.
Taiwan Semiconductor Manufacturing Company ($TSM) sold its final stake in Arm ($ARM) in a $231 million exit.
Broadcom ($AVGO) has risen over 110% in one year, continuing expansion as a leader in custom Application-Specific Integrated Circuits used in high-speed computing, hyperscale datacenters, and AI, with a five-year forward EPS exceeding 41%.

Enterprise AI Adoption

Bullish
PLTR
Palantir Technologies ($PLTR) signed a 3-year AI deal with Cleveland-Cliffs to modernize operations, deploying AI across production planning, order entry, and daily operations following a pilot program. The steelmaker partnership demonstrates continued enterprise adoption of $PLTR's AI platform beyond traditional government and defense contracts.
Wedbush analysts expect another strong quarter when $PLTR reports first-quarter 2026 results after the closing bell on May 4, citing commercial acceleration and government contracts. The stock's recent gains have raised multiple-compression concerns.

Regulatory & Strategic Developments

Bearish

Alphabet Buybacks (12mo)

$55.75B

Meta Buybacks (12mo)

$44.23B
GOOGLMETA
Alphabet ($GOOGL) faces deeper regulatory scrutiny as Brazil's antitrust authority CADE approved advancing a more in-depth investigation into Google LLC regarding its use of journalistic content. The company disclosed $55.75 billion in stock buybacks in the 12 months through September 2025, among the largest share repurchase programs. More than 560 Google employees signed a letter urging CEO Sundar Pichai to block the use of company AI tools, highlighting internal debate over AI deployment.
$META disclosed that China's National Development and Reform Commission prohibited foreign investment in the Manus project, requiring Meta to withdraw from the proposed acquisition.
$META had executed $44.23 billion in stock buybacks in the 12 months through September 2025.

Looking Ahead

Neutral

Norway Wealth Fund Loss

1.9%-1.9%
PLTRNFLX
Palantir Technologies ($PLTR) is set to report first-quarter 2026 results after the closing bell on May 4, with analysts expecting continued strength from commercial AI platform demand and government contracts.
Netflix ($NFLX) faces an unusually high volume of shareholder proposals ahead of its June 2026 annual meeting, with items spanning cumulative voting, expanded consent rights, greater board accountability, and more detailed reporting on legal, regulatory, and ESG-related investment risks. The Federal Reserve held its key interest rate steady, with Chairman Jerome Powell presiding over his final meeting before Kevin Warsh takes over prior to the next meeting on June 17, and markets see negligible odds of a rate cut before year-end as oil prices continue to rise. Norway's wealth fund reported a 1.9% loss, with fund manager Nicolai Tangen stating that AI's deflationary impact may be helping markets absorb rising energy prices despite geopolitical tensions.

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