Alphabet and Microsoft ignited a rally in technology stocks on Friday with earnings that showed big AI investments were driving growth, allaying doubts that their costly bets would take time to pay off after a soft forecast from Meta Platforms.
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Tech s fourth quarter earnings season kicks off this week with results from Netflix, Tesla and Intel. The so-called Magnificent Seven are expected to deliver combined profit growth of about 46%, according to data compiled by Bloomberg. That s down slightly from the third quarter s 53% expansion, but it still dwarfs almost all of the main sectors in the S&P 500 Index.
Big Tech: The so-called Magnificent Seven are expected to deliver combined profit growth of about 46%, according to data compiled by Bloomberg. That s down slightly from the third quarter s 53% expansion, but it still dwarfs almost all of the main sectors in the S&P 500 Index.