[This Week's Market Watch] Tech giants Tesla, Google, Intel, and others report earnings! Here’s your guide to navigating this week’s earnings season.

Dear investors, Hong Kong, U.S., and global tech assets experienced another round of significant deleveraging last week. On Friday, the Dow Jones, S&P 500, and Nasdaq fell by 0.77%, 1.01%, and 1.40%, respectively. The semiconductor sector was hit hardest, with the Philadelphia Semiconductor Index down over 20% from its June high.

More notably, the market is seeing a divergence between strong earnings and stock performance—Taiwan Semiconductor reported a sharp Q2 earnings surge yet still faced sell-offs, and Netflix dropped 7.3% after its earnings release.This reflects a shift in capital flows: investors are moving beyond simply trading AI demand and are now scrutinizing AI-related capex returns, valuations, and crowded positioning. There’s also a noticeable rebalancing of funds from AI hardware into software, financials, healthcare, and other defensive sectors.The Korean market remains highly volatile, with chip stocks like SK Hynix and single-stock leveraged ETFs prompting tighter regulatory scrutiny. Hong Kong tech stocks have also been dragged down by the broader global tech deleveraging sentiment.

Amid this volatility, how should we position ourselves this week? Below, we’ve compiled key macro and sector events along with potential investment opportunities for the week ahead:

1. Key Macro Events & Market Opportunities

◦ European Central Bank (ECB) interest rate decision: To be announced this Thursday (July 23).

◦ Latest US initial jobless claims: To be announced this Thursday (July 23).

– Event：

◦ The European Central Bank’s current benchmark interest rate remains at 2.40%. While the market expects rates to remain unchanged at this meeting, President Lagarde’s forward guidance on inflation and the future rate-cut path during the press conference will be the market’s focal point. A dovish signal would support improved global liquidity.

◦ On the U.S. employment front, initial jobless claims previously fell to a low of 208,000, indicating continued resilience in the labor market. This week’s data will further test whether the U.S. economy is achieving a 'soft landing' or facing slowdown pressures, directly impacting the Fed’s pace of rate cuts in the second half of the year.

– Opportunity Insights：

◦ At this juncture, investors should monitor movements in U.S. Treasury yields for potential positive catalysts on high-dividend stocks (such as local utility and telecom shares). In volatile markets, moderately allocating to dividend-oriented sectors may help optimize portfolios and diversify risk.

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2. Industry Highlights and Market Opportunities

Event: Q2 Earnings Season for U.S. Tech Giants

◦ $GE Vernova (GEV.US)$ will announce earnings on Wednesday, July 22, before the U.S. market opens;

◦ $Alphabet-C (GOOG.US)$ 、 $Tesla (TSLA.US)$ 、 $IBM Corp (IBM.US)$、 $Texas Instruments (TXN.US)$ will announce earnings on Wednesday, July 22, after the U.S. market closes;

◦ $Intel (INTC.US)$ will announce earnings on Thursday, July 23, after the U.S. market closes.

◦ $Advanced Micro Devices (AMD.US)$ "Advancing AI 2026" conference: Will be held in San Francisco on July 23.

Opportunity Insights

This week marks a 'watershed' for tech earnings. Following last week's market correction, investors are intensely focused on tech giants’ ability to monetize AI and the return on their capital expenditures (Capex).

◦ $GE Vernova (GEV.US)$ : As the most critical indicator to watch in the AI power/energy sector, the most critical indicator to watch in the AI power/energy sector, with AI data centers driving explosive growth in electricity demand, GEV’s order backlog and guidance will directly reveal the real momentum behind AI infrastructure build-out.

◦ $Alphabet-C (GOOG.US)$: The market will closely monitor the growth rate of its Google Cloud business and any updated commentary on next year’s AI-related capital expenditures.

◦ $Tesla (TSLA.US)$ : After achieving record deliveries, investors should pay close attention to its gross margin performance, the latest progress on Robotaxi, and technical disclosures regarding humanoid robots.

◦ $Advanced Micro Devices (AMD.US)$AMD Conference & Semiconductor Earnings: AMD’s conference will showcase its latest AI solutions and product roadmap, potentially providing a catalyst for the recently sluggish semiconductor sector. Meanwhile, Intel $Intel (INTC.US)$ And, $Texas Instruments (TXN.US)$ The earnings of equipment makers will directly determine whether chip stocks can halt their decline and stabilize.

Investor Focus：

◦ Tech Giants and Semiconductor Sector ( $Alphabet-C (GOOG.US)$、 $Tesla (TSLA.US)$、 $Advanced Micro Devices (AMD.US)$、 $Intel (INTC.US)$）Stock price volatility may intensify around the time of short-term earnings announcements. For those who are bullish on long-term AI development but concerned about short-term fluctuations, if you're unable to accurately time market highs and lows,consider using a 'monthly investment plan' to gradually accumulate positionsto reduce portfolio risk through dollar-cost averaging.

📅 Next Week Preview: The Ultimate Test for Hardcore Tech and Cloud Giants

Market attention will escalate further next week!Chip giants $SK hynix (SKHY.US)$、 $Samsung Electronics (005930.KR)$will report earnings later this month; meanwhile, Microsoft ( $Microsoft (MSFT.US)$）、Amazon（ $Amazon (AMZN.US)$) and $Meta Platforms (META.US)$ The earnings reports from these cloud giants will all be released within the next two weeks.

These cloud titans' capital expenditure (Capex) and cloud business growth rates will ultimately determine whether tech stocks can kick off a new rally. Next week, we’ll provide a detailed analysis of the investment opportunities in these stocks.You can start by following the "Futubull Soars with You" account, to receive the latest in-depth analysis and investment strategies第一时间!

💡 Warm reminder: Markets change rapidly, especially during this busy earnings season—timely information and deep insights are critical.

If you’d like to deeply understand key daily news and get immediate interpretations of new investment opportunities,you can use the "Futubull AI" feature. Whether it’s instantly breaking down earnings highlights from tech giants, analyzing market fund flows, or answering your individual stock questions, Futubull AI provides professional, real-time analytical support—helping you steadily capture every investment opportunity in the volatile second half of 2026!

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