Microsoft, Alphabet, Amazon Seen Leading 'Very Strong' Tech Earnings Season Next Week, Wedbush Says

MT Newswires Live10-24

Microsoft (MSFT), Alphabet (GOOG, GOOGL) and Amazon.com (AMZN) are seen leading a "very strong" earnings season for the technology sector next week, Wedbush Securities said in a note Friday.

Wedbush said that based on its field checks, the "cloud stalwarts" Microsoft, Alphabet and Amazon saw a "very robust" artificial intelligence enterprise demand in the quarter.

The brokerage said the Street continues to underestimate the size of this AI spending.

Wedbush said it expects the latest quarterly tech earnings "to be another validation moment with a doubling down on aggressive initial" capital expenditures into next year.

The firm said its bullish view is that investors still don't fully appreciate future growth from the $3 trillion of spending in the next three years from enterprise and government spending on AI and use cases.

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