Tale of Two Tech Giants: MSFT and META Earnings Diverge on A.I. Spending Plans

A day after a massive market drop, two A.I. giants told very different stories. Microsoft (MSFT) delivered a blowout quarter, revenue up 18% to $90B and Azure topping $100B for the first time, enhancing its argument that its A.I. spending is already paying off. Meanwhile, Meta Platforms (META) posted record revenue, but missed earnings and said it expects to spend on the higher range of its prior capex guidance, expecting $130B-$145B this year. On the chip front, Lam Research (LRCX) is moving higher despite mixed earnings as raised its 3Q guidance. Jenny Horne has Thursday's top moving stocks.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about