Mag 7 Earnings Wrap-up: Is AI Boom Still Driving the Market?

Big Tech earnings season is just about wrapped up, with only Nvidia left on deck and the scoreboard among the Magnificent 7 is looking... mixed.

So far, three of the seven managed to rally post-earnings. The other three — Tesla, Amazon, and Apple — stumbled. Not a total disaster, but it wasn’t a complete flop either. The AI narrative is still very much alive.

Apple (AAPL)

Amazon.com (AMZN)

Tesla Motors (TSLA)

As for me? I didn’t even bother watching most of the earnings this round, especially the AI-linked names.

Not because I’m out of touch, but because I already know I'm not going to buy them. Whether the earnings were good, bad, or somewhere in between, I wasn’t planning to jump in. These stocks have run so far, so fast over the last few years that even a “bad” quarter doesn’t necessarily bring them down to levels I’d consider attractive.

At this point, a dip in an AI stock often just means it’s slightly less expensive than ridiculously expensive.

And yeah, I get it, AI is the big theme. It's driving revenue, headlines, and investor FOMO. But for me, the excitement has cooled off. I’ve seen the charts. I’ve watched the narratives build. And now, I’m just not convinced there’s a clear entry point that fits my risk-reward profile.

So instead of chasing what’s already hot, I’ve been spending more time trying to spot what might become hot next, the next narrative, the next hype cycle, whatever that may be. It’s not easy, obviously. If it were, everyone would be rich. But I try to use my brain. I sit, I think, I read between the lines. Where are people not paying attention? What’s quietly growing in the shadows while all eyes are glued to AI?

There’s no perfect method. No crystal ball. But honestly, that’s what makes it interesting. Trying to predict the next wave is way more fun (and potentially rewarding) than chasing the last one after it’s already gone vertical.

So yeah, earnings season was interesting… for everyone else. Next up is Nvidia, but I’m not expecting anything that’ll make me change my stance. My eyes are already elsewhere, scanning the edges of the market, looking for stories that haven’t gone mainstream yet.

Because by the time something becomes obvious, it’s usually already priced in.