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Apple and Amazon reported starkly contrasting earnings— which one are you bullish on?
富途资讯
joined discussion · Jul 19 17:01

Week Ahead | Google, Tesla, IBM, Intel, and others to report earnings, putting tech stocks in the spotlight; AMD hosts AI conference with Lisa Su delivering a keynote speech; Trump attends White House Correspondents' Dinner on Friday

Overview of Key Events for the New Week
– Tech giants are reporting earnings en masse, with Google, Tesla, IBM, and Texas Instruments all releasing results on the same day, followed closely by Intel.
$Alphabet-A (GOOGL.US)$、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、$Texas Instruments (TXN.US)$will report earnings after U.S. market hours on July 22,$Intel (INTC.US)$will report earnings after U.S. market hours on July 23. Market focus centers on two key issues: the sustainability and scalability of AI-related returns, and forward-looking guidance from companies on future capital expenditures.
A Goldman Sachs report emphasizes that the market’s primary concern now is whether a broader set of companies across the supply chain can translate AI demand into actual profits. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital spending will generate sufficient returns has become the market’s most critical unanswered question.
Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that if$Alphabet-A (GOOGL.US)$any signal of cutting AI investment budgets is released, it could trigger a chain reaction across the entire AI industry chain and severely impact AI-related trades. Wall Street currently believes that the likelihood of Google significantly reducing its AI investments in the near term is low. Additionally,$Tesla (TSLA.US)$progress in the AI field remains a key focus.
Investors are now paying closer attention to earnings quality, forward guidance, and whether valuations are sufficiently justified by fundamentals. The market is watching whether tech giants’ rapidly expanding capital expenditures will ultimately deliver adequate returns; companies need to simultaneously demonstrate resilient profit margins, unchanged full-year guidance, and evidence that earnings growth is broadening beyond a few AI and tech leaders into a wider range of sectors before the market is willing to assign higher valuations.
Overview of Key Events for the New Week – Tech giants are reporting earnings en masse, with Google, Tesla, IBM, and Texas Instruments all releasing results on the same day, followed closely by Intel. $Alphabet-A (GOOGL.US)$、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、$Texas Instruments (TXN.US)$will report earnings after U.S. market hours on July 22,$Intel (INTC.US)$will report earnings after U.S. market hours on July 23. Market focus centers on two key issues: the sustainability and scalability of AI-related returns, and forward-looking guidance from companies on future capital expenditures. A Goldman Sachs report emphasizes that the market’s primary concern now is whether a broader set of companies across the supply chain can translate AI demand into actual profits. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital spending will generate sufficient returns has become the market’s most critical unanswered question. Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that if$Alphabet-A (GOOGL.US)$any signal is given to cut AI investment budgets, it could trigger repercussions across the entire AI supply chain...
Related Reading:At-a-glance preview | Earnings season hits US tech giants! Tesla and Google take the stage next week—can strong AI-driven profits continue to支撑 share prices?
– AMD hosts its 'Advancing AI 2026' conference, where Lisa Su will deliver a keynote speech
$Advanced Micro Devices (AMD.US)$announced that its flagship global AI conference, 'Advancing AI 2026,' will be held in person and via live stream from July 22–23 (Pacific Time) at the Moscone Center in San Francisco. The event will unveil AMD-powered blueprints for building, deploying, and scaling AI within an open ecosystem.
Lisa Su, Chair and Chief Executive Officer of AMD,will deliver a keynote address at 00:30 Beijing time on Friday, joining numerous AMD executives along with AI ecosystem partners, customers, and developers to explore how AMD’s end-to-end AI solutions—from silicon to software—are reshaping the landscape of AI and high-performance computing.
– The European Central Bank is expected to hold interest rates steady.
The European Central Bank's monetary policy decision will be announced on July 23 at 20:15, with markets widely expecting rates to remain unchanged. Bloomberg Intelligence noted that the slowdown in eurozone inflation in June has removed the need for an emergency rate hike, though the risk of second-round inflation effects from rising energy prices means another hike in September remains possible.
Analysts at ING Groep and UBS Group both expect the European Central Bank to hold its deposit rate steady at 2.25% next week, while emphasizing that developments in the Middle East and their impact on inflation will be central considerations for policymakers ahead of the September meeting.
UBS also noted that the ECB could provide further guidance in the coming months on a proposal to raise banks’ minimum reserve requirements from 1% to 2%. UBS estimates this move would reduce excess market liquidity by approximately EUR 170 billion and lower the interest payments the central bank makes annually to commercial banks.
– Andy Burnham assumed office as UK Prime Minister on July 20, delivering his inaugural speech and announcing his first cabinet lineup.
According to CCTV International News, citing UK media reports on July 13, Andy Burnham, Member of Parliament for the House of Commons, has secured nomination support from 349 Labour MPs, effectively locking in his position as Labour Party leader and positioning him to become Prime Minister on July 20. Multiple opinion polls show he is currently one of the most popular Labour politicians. An article in the Financial Times noted that Burnham’s core political asset is the 'Manchesterism' he developed during his more than nine years as Mayor of Greater Manchester.
– The World Artificial Intelligence Conference (WAIC) concluded on July 20.
The 2026 World Artificial Intelligence Conference (WAIC 2026) will conclude on July 20, with key sessions including the WAIC Thinkers Forum – Kai-Fu Lee Session from 09:00–10:00, and the NetEase Zhiqi Forum – Building Enterprise Intelligent Productivity with Trustworthy AI from 09:00–12:00. The full agenda for the day is as follows:
Overview of Key Events for the New Week – Tech giants are reporting earnings en masse, with Google, Tesla, IBM, and Texas Instruments all releasing results on the same day, followed closely by Intel. $Alphabet-A (GOOGL.US)$、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、$Texas Instruments (TXN.US)$will report earnings after U.S. market hours on July 22,$Intel (INTC.US)$will report earnings after U.S. market hours on July 23. Market focus centers on two key issues: the sustainability and scalability of AI-related returns, and forward-looking guidance from companies on future capital expenditures. A Goldman Sachs report emphasizes that the market’s primary concern now is whether a broader set of companies across the supply chain can translate AI demand into actual profits. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital spending will generate sufficient returns has become the market’s most critical unanswered question. Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that if$Alphabet-A (GOOGL.US)$any signal is given to cut AI investment budgets, it could trigger repercussions across the entire AI supply chain...
Overview of Key Events for the New Week – Tech giants are reporting earnings en masse, with Google, Tesla, IBM, and Texas Instruments all releasing results on the same day, followed closely by Intel. $Alphabet-A (GOOGL.US)$、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、$Texas Instruments (TXN.US)$will report earnings after U.S. market hours on July 22,$Intel (INTC.US)$will report earnings after U.S. market hours on July 23. Market focus centers on two key issues: the sustainability and scalability of AI-related returns, and forward-looking guidance from companies on future capital expenditures. A Goldman Sachs report emphasizes that the market’s primary concern now is whether a broader set of companies across the supply chain can translate AI demand into actual profits. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital spending will generate sufficient returns has become the market’s most critical unanswered question. Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that if$Alphabet-A (GOOGL.US)$any signal is given to cut AI investment budgets, it could trigger repercussions across the entire AI supply chain...
Key Earnings Calendar for the New Week
Next week marks the peak of the US earnings season,$Alphabet-A (GOOGL.US)$、$IBM Corp (IBM.US)$、$Tesla (TSLA.US)$、$Texas Instruments (TXN.US)$、$Intel (INTC.US)$will report earnings sequentially, putting AI investment theses to a new round of testing. On the Hong Kong stock market side, there are currently no scheduled pre-market trading arrangements for new listings next week,$CATL (03750.HK)$will release earnings on Friday.
Overview of Key Events for the New Week – Tech giants are reporting earnings en masse, with Google, Tesla, IBM, and Texas Instruments all releasing results on the same day, followed closely by Intel. $Alphabet-A (GOOGL.US)$、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、$Texas Instruments (TXN.US)$will report earnings after U.S. market hours on July 22,$Intel (INTC.US)$will report earnings after U.S. market hours on July 23. Market focus centers on two key issues: the sustainability and scalability of AI-related returns, and forward-looking guidance from companies on future capital expenditures. A Goldman Sachs report emphasizes that the market’s primary concern now is whether a broader set of companies across the supply chain can translate AI demand into actual profits. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital spending will generate sufficient returns has become the market’s most critical unanswered question. Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that if$Alphabet-A (GOOGL.US)$any signal is given to cut AI investment budgets, it could trigger repercussions across the entire AI supply chain...
Related Reading:Tech giants' earnings season is here! Google, Tesla, Intel, and Nokia take the stage—who will deliver the most impressive results? Weekly earnings roundup (July 20–24)
Monday (July 20)
Key highlights: U.S. June Conference Board Leading Economic Index (MoM); Japanese stock market closed; FIFA World Cup final; AMC Entertainment earnings
On the economic data front, at 09:00, China will release its one-year Loan Prime Rate as of July 20; at 22:00, the U.S. will release the June Conference Board Leading Economic Index (MoM).
In terms of performance,$AMC Entertainment (AMC.US)$、$Domino's Pizza (DPZ.US)$Earnings will be released during U.S. pre-market hours;$Zions Bancorp (ZION.US)$will release earnings after the U.S. market close.
On the financial calendar, at 03:00, the FIFA World Cup final; the WAIC World Artificial Intelligence Conference concludes today.
Regarding market holidays,The Tokyo Stock Exchange in Japan is closed for Marine Day.
Tuesday (July 21)
Key highlights: Weekly change in ADP employment figures; General Motors and 3M earnings
On the economic data front, at 20:15, the U.S. will release the weekly change in ADP employment figures (in thousands) for the week ending July 4.
On the economic calendar, at 10:00, the State Council Information Office will hold a press conference on July 21 as part of its series themed 'Getting Off to a Strong Start for the 15th Five-Year Plan.' Andy Burnham will move into Downing Street on the 20th, becoming the UK's seventh prime minister in ten years.
In terms of performance,$D.R. Horton (DHI.US)$、$General Motors (GM.US)$、$3M (MMM.US)$、$Novartis AG (NVS.US)$、$Charles Schwab (SCHW.US)$will release earnings before the US market opens;$Chubb Ltd (CB.US)$、$Capital One Financial (COF.US)$、$EQT Corp (EQT.US)$will release earnings.
Wednesday, July 22
Key events: Weekly API crude oil inventory; earnings from Google, Tesla, IBM, and Texas Instruments
In terms of economic data,The weekly API crude oil inventory for the week ending July 17 (in 10,000 barrels) will be released at 04:30. At 22:30, the US will release the weekly EIA crude oil inventory (in 10,000 barrels), EIA Cushing, Oklahoma crude oil inventory (in 10,000 barrels), and EIA Strategic Petroleum Reserve inventory (in 10,000 barrels), all for the week ending July 17.
In terms of market trading,At 02:30, NYMEX WTI August crude oil futures will be affected by the roll-over process. The last trading session on the floor will conclude at 02:30 on July 22, and the final electronic trading session will end at 05:00. Please pay close attention to exchange notices regarding contract rollover to manage risk. Additionally, some trading platforms typically expire their WTI crude contracts one day earlier than the official NYMEX schedule—please take extra note.
In terms of performance,$CME Group (CME.US)$、$GE Vernova (GEV.US)$、$Moody's (MCO.US)$、$Philip Morris International (PM.US)$will release earnings before the US market opens;$Alphabet-A (GOOGL.US)$、$IBM Corp (IBM.US)$、$ServiceNow (NOW.US)$、$Tesla (TSLA.US)$、$Texas Instruments (TXN.US)$will release earnings after the U.S. market close.
Thursday, July 23
Key events: ECB interest rate decision; weekly initial jobless claims; earnings from Intel and Nokia
In terms of economic data,09:00 — China's June share of RMB in global payments via SWIFT is released; 20:30 — US initial jobless claims for the week ending July 18 (in 10,000s) are released; 22:30 — US EIA natural gas inventory change for the week ending July 17 (in billion cubic feet) is released.
In terms of financial events,20:15 — The European Central Bank announces its interest rate decision; 20:45 — ECB President Lagarde holds a press conference on monetary policy.
In terms of performance,$American Airlines (AAL.US)$、$Blackstone (BX.US)$、$Lockheed Martin (LMT.US)$、$Nokia Oyj (NOK.US)$、$RTX Corp (RTX.US)$Will report earnings before the US market open; after the US market close,$Intel (INTC.US)$、$Newmont (NEM.US)$、$SAP SE (SAP.US)$results will be released.
Friday (July 24)
Key events: Japan's June core CPI year-over-year; White House Correspondents' Association (WHCA) dinner; AMD Advancing AI conference; earnings from American Express and CATL
In terms of economic data,07:30 — Japan's June core CPI year-over-year is released; 21:45 — US S&P Global Manufacturing PMI and Services PMI preliminary readings for July are released; 22:00 — US June annualized new home sales (in 10,000s) are released.
In terms of financial events,00:30，AMD 2026 Advancing AI conference, with CEO Lisa Su delivering a keynote speech; Trump’s White House Correspondents' Association (WHCA) dinner has been rescheduled to Friday.
In terms of performance,Before the US market open,$American Express (AXP.US)$、$HCA Healthcare (HCA.US)$、$NextEra Energy (NEE.US)$、$SLB Ltd (SLB.US)$、$Verizon (VZ.US)$will announce earnings;$CATL (03750.HK)$Hong Kong-listed stocks will announce earnings on that day.
Get ahead of major financial events and spot investment opportunities early! Open Futubull > Market > US Stocks >Financial Calendar/Featured macroeconomic data, seize investment opportunities ahead of the curve!
Overview of Key Events for the New Week – Tech giants are reporting earnings en masse, with Google, Tesla, IBM, and Texas Instruments all releasing results on the same day, followed closely by Intel. $Alphabet-A (GOOGL.US)$、$Tesla (TSLA.US)$、$IBM Corp (IBM.US)$、$Texas Instruments (TXN.US)$will report earnings after U.S. market hours on July 22,$Intel (INTC.US)$will report earnings after U.S. market hours on July 23. Market focus centers on two key issues: the sustainability and scalability of AI-related returns, and forward-looking guidance from companies on future capital expenditures. A Goldman Sachs report emphasizes that the market’s primary concern now is whether a broader set of companies across the supply chain can translate AI demand into actual profits. Hyperscale cloud providers such as Microsoft, Amazon, Google, and Meta are investing in AI infrastructure at a pace exceeding their own operating cash flows. Whether this unprecedented wave of capital spending will generate sufficient returns has become the market’s most critical unanswered question. Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management, stated that if$Alphabet-A (GOOGL.US)$any signal is given to cut AI investment budgets, it could trigger repercussions across the entire AI supply chain...
Wishing all fellow investors a successful week ahead!
Edited by melody
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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