Big Tech's AI promises become a 'show me' story for investors: Report

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Big Tech's AI promises become a 'show me' story for investors: Report - Business Standard

Quick Summary:

Results from Microsoft Corp., Meta Platforms Inc., Amazon.com Inc.and Apple Inc.

With six companies inside a group known as the Magnificent Seven already having reported, year-over-year earnings growth has slowed to nearly 30 per cent in the second quarter, down from 50 per cent in the prior period.

The earnings results, combined with the Federal Reserve signaling that a September rate cut may be on the table and a weaker-than-expected jobs report sent the Nasdaq 100 Index spiraling.