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Tech investors focus on profits after record layoffs; companies to highlight AI

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Microsoft, Google parent Alphabet, Instagram owner Meta Platforms and Amazon.com all report quarterly results this week

Together, they command more than $5-trillion in market capitalization, or more than 14 per cent of the value of the S&P 500 index.

Amazon.com Inc, which reported a big drop in fourth-quarter profit due to valuation losses because of its investment in money-losing EV maker Rivian Automotive, is set to post a first-quarter profit that is expected to increase eight times, when compared with the immediately previous quarter. “If last quarter’s message from Big Tech was all about efficiency and bottom line improvement, this quarter’s message is likely to be more forward-looking around the massive potential of artificial intelligence,” Andrew Lipsman, analyst at Insider Intelligence, said.

“There are expectations that companies could create or do even more with AI … every tech investor is expecting those companies to be in the frontier.”

 

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