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

By Schwab Network

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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/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/1919