Microsoft, Meta, Amazon, and Apple report earnings this week, and crypto markets are watching closely

Four of the most valuable companies on Earth are about to open their books within 48 hours of each other. Microsoft and Meta report on July 29, followed by Apple and Amazon on July 30, all after market close.

What Wall Street expects

Microsoft kicks things off on July 29 with its fiscal Q4 2026 results. Analysts are looking for earnings per share between $4.22 and $4.24, with revenue projected in the range of $87.5B to $87.67B. That conference call is scheduled for 2:30 PM PT.

Meta also reports on July 29, releasing its Q2 fiscal 2026 numbers. Expected EPS sits between $7.18 and $7.24. Meta’s earnings call follows the next day at 1:30 PM PT.

Then on July 30, the baton passes to Apple and Amazon. Apple’s fiscal Q3 report carries an expected EPS of roughly $1.86, with its call at 2:00 PM PT. Amazon’s Q2 results are anticipated to show EPS around $1.85, with its own call also at 2:00 PM PT.

Why AI spending is the story within the story

Microsoft’s Azure cloud business is the commercial backbone of OpenAI’s products. Meta has been building out AI training infrastructure at a pace that would make a small country’s GDP blush. Amazon Web Services remains the largest cloud provider on the planet. And Apple, the perennial latecomer to AI narratives, is under pressure to show that its on-device intelligence strategy is actually translating into hardware demand.

Each company’s commentary on AI capex will tell us whether the current spending boom is accelerating, plateauing, or starting to show diminishing returns.

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