Big Tech Earnings Today: MSFT, AMZN, META, GOOGL Set To Test Mag7's Incredible April Rally

Four of the seven Magnificent 7 names — Microsoft, Amazon, Meta, and Alphabet — are reporting on the same day, making this the single highest-stakes earnings session of the current cycle. The cluster arrives after the group collectively staged a dramatic April rebound, partially recovering steep losses tied to tariff-escalation fears. Consensus heading in: MSFT ~$13.64 diluted EPS on $281.7B revenue (+14.9% YoY), AMZN ~$7.17 EPS on $716.9B (+12.4% YoY), META ~$23.49 EPS on $201B (+22.2% YoY). GOOGL enrichment was not available in the feed but trades on a similar sentiment setup.

What matters most is not the backward-looking beat-or-miss but the forward guide. Cloud trajectory (Azure, AWS), AI monetization commentary, and advertising demand signals will drive the real reaction. META's 22.2% revenue growth and 30.1% net margin entering the print gives it the highest fundamental bar to clear; MSFT's 68.8% gross margin reflects the leverage of its Azure + Copilot stack. AMZN's AWS growth rate is the number most watched by cloud sentiment broadly — a deceleration would drag the whole sector.

The second-order tension is straightforward: the April rally has already priced in a lot of good news. If guides are even modestly soft — particularly on capex plans or macro demand visibility given tariff uncertainty — the snap-back could be violent given how quickly these names re-rated. Conversely, if all four print clean beats with maintained or raised guides, it would validate the rally and potentially push the group to new recovery highs.

Key items to watch: Azure growth rate (consensus ~35% CC), AWS revenue growth vs. Q4's pace, META's Q2 revenue guide vs. the $42–45B street range, and any commentary from all four on advertiser spending trends in April given the macro backdrop. Capex commentary across all four will also move AI infrastructure names like NVDA downstream.