U.S. technology giants are likely to post their strongest quarterly revenue growth in at least a year as their legacy businesses stabilized, but investors looking for signs of a boost from artificial intelligence may be disappointed.) are expected to have built on the recovery in their enterprise software and digital ads businesses as professional and consumer spending stayed resilient despite an uncertain global economy.
While enterprise demand stabilized for legacy products, that has not extended to cloud computing, the mainstay for Microsoft and Amazon. The duo likely just barely budged off their previous quarter’s record-low cloud growth rates. For others, such AI investments, like buying expensive Nvidia chips, may hurt their bottom lines in the short term.
Alphabet and Meta are set to benefit from an uptick in digital ad sales ahead of the holiday-shopping season. But cloud computing growth for all the companies is expected to show little improvement as clients look for ways to optimize their infrastructure costs.
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