Stocktwits Tech Watch: More Big Earnings, Apple’s Touch-Screen MacBook And Intel Results In Focus

Investors will scrutinize cloud growth, AI spending plans and chip demand, as the market enters the thick of the earnings season.

• Microsoft, Alphabet and Amazon earnings will offer fresh clues on whether massive AI investments are translating into growth, with investors also watching CapEx updates.
• Seagate’s results will offer insight into hard disk drive demand, while Intel’s report could provide a broader read on chip demand trends.
• Apple is expected to unveil its first touchscreen MacBook this week.

The market will enter the thick of the third-quarter earnings season this week, with Big Tech heavyweights Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Intel (INTC) reporting their results.

Hyperscalers' results are expected to be the highlight, offering clues on whether eye-popping AI investment is turning into revenue and shaping the course of the tech trade.

Meanwhile, Apple is hosting an event in the week where it is expected to unveil its first touch-screen MacBook. Here’re the main events to watch out for:

Tech IPO Watch

Anthropic is reportedly targeting an IPO in mid-November, with a public prospectus potentially arriving later this month. The AI company could command a valuation of up to $1.5 trillion, according to Reuters.

South Korean chipmaker SK Hynix has abandoned plans for a U.S. IPO for its Solidigm subsidiary, which specializes in NAND flash memory and solid-state drives. Regulatory concerns about shareholder interests and market volatility contributed to the decision, according to reports.

Tech Earnings

Seagate Technology (Oct. 27): After strong results from peer Western Digital last week, investors have set a high bar for Seagate’s report, which would give a clear read on the hard disk drive (HDD) demand. 

Analysts expect fiscal Q1 revenue to rise 58% to $4.14 billion and adjusted profit to rise 184% to $7.40 per share, per Koyfin data.

Microsoft and Alphabet (Oct. 28): Investors will focus on cloud growth and any updates to capital expenditure forecasts, particularly amid growing concerns over AI spending and returns. Microsoft’s Azure and Alphabet’s Google Cloud are the world's second- and third-largest cloud providers, respectively. 

Analysts expect Microsoft’s fiscal Q1 revenue to rise 17% to $90.75 billion and adjusted profit to rise 14% to $4.72 per share.

Alphabet’s Q3 revenue is expected to rise 25% to $127.83 billion and adjusted profit to increase 3% to $2.97 per share.

Amazon and Intel (Oct. 29): Analysts expect Amazon’s Q3 revenue to rise 12% to $202.20 billion and adjusted profit to rise 2% to $1.98 per share. 

Intel is the first major chip maker to report, and analysts expect Q3 revenue to rise 21% to $16.47 billion and adjusted profit to rise 72% to $0.40 per share.

Tech Events

The Information’s WTF Summit (Oct. 27-28, California): The conference will bring together women leaders in technology, media and finance to discuss AI, software, robotics, crypto and company-building. Confirmed speakers include Whitney Wolfe Herd, founder and CEO of Bumble, Anne Wojcicki, founder and CEO of the 23andMe Research Institute, and Bari Weiss, editor-in-chief of CBS News.

Apple “Pro and tell” media event (Oct 28, Los Angeles): After the “Welcome Home” event and the iPhone Duo on sale, Apple is back with another product event. The Pro and tell event is expected to focus on MacBook Pro, with reports speculating that Apple will unveil a touchscreen MacBook and some newer versions of the existing lineup.

Tech Winners And Losers Ahead Of Monday

Nasdaq-100 Gainers	Nasdaq-100 Losers
Roper Technologies (up 14.5%)	LAM Research (down 12.8%)
CrowdStrike (up 13.3%)	KLA Corp (down 12.2%)
Palo Alto Networks (up 11.3%)	CoreWeave (down 11.7%)

Last week, the Invesco QQQ Trust Series 1 (QQQ) fell 0.8% and the iShares Semiconductor ETF (SOXX) declined 3.1%.

The software-focused iShares Expanded Tech-Software Sector ETF (IGV) rose 6%.

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