Big Tech Earnings Ahead After Alphabet's Negative Cash Flow

Microsoft, Meta, Amazon and Apple will report in the week starting July 29, days after Alphabet logged its first quarterly negative free cash flow since going public. The Nasdaq fell to 24,975 on Friday. The updates come as investors assess whether AI-related revenue can cover rising spending on chips and data centers.

Microsoft, Meta, Arm Holdings and Qualcomm are scheduled for July 29. Amazon, Apple, Mastercard and Shell follow on July 30. ExxonMobil and Chevron are due July 31. AstraZeneca reports July 27, and Boeing, Visa and Coca-Cola on July 28. Nvidia is slated for late August.

Alphabet's cash flow result reflected heavier AI investment. Hyperscale providers have reported demand tied to AI workloads, while spending on data centers and GPUs has increased. Market attention has shifted to cash generation, capital intensity and the timing of profit trends.

Trading conditions at the start of the week are being shaped by developments involving the United States and Iran, upcoming central bank decisions and month-end positioning. U.S. equity futures pointed higher early Monday after the Nasdaq tested its June lows at 24,975 on Friday.

Investors will track guidance on capital expenditure plans, data center builds, chip procurement and cloud demand, along with any updates on revenue tied to generative AI products.