Super Earnings Day: Three Tech Giants Disclose Results on Same Day

On July 29, 2026, the US stock market experienced the most significant earnings day of the year—Apple (AAPL), Amazon (AMZN), and Microsoft (MSFT) released their quarterly results for the period ending June 2026. The earnings of these three companies attracted great investor attention, as their performance not only represents the development of their respective fields but is also seen as a bellwether for the overall health of the tech industry.

Amazon: Cloud Business Returns to Accelerated Growth Track

Amazon delivered results that exceeded market expectations. Data shows that its core e-commerce business maintained steady global growth, but the most impressive aspect came from its AWS cloud computing business. AWS revenue grew 18% year-over-year to $28.5 billion, achieving double-digit growth for the second consecutive quarter, indicating that corporate spending on AI and cloud infrastructure is accelerating. CEO Andy Jassy stated in the conference call that AI-related cloud service demand is the primary driver, with customer demand for generative AI model training and inference continuing to surge. Additionally, Amazon's advertising business revenue grew 15%, becoming a new profit growth point. Following the earnings release, Amazon's stock rose over 4% in after-hours trading.

Apple: iPhone Sales Beat Expectations, Services Revenue Hits New High

Apple's fiscal third-quarter (ending June) earnings report showed revenue of $91.2 billion, up 6% year-over-year, beating market expectations. Among them, iPhone revenue grew 8% year-over-year to $46.5 billion, mainly driven by strong global sales of the iPhone 17 series, especially in Greater China. Services revenue reached a record high of $23.5 billion, up 12% year-over-year, with subscriber numbers for subscription services like App Store and Apple Music continuing to climb. However, revenue in Greater China fell 2.8% year-over-year, raising concerns about geopolitical risks. Apple management said that despite currency headwinds, they remain optimistic about the next quarter's performance. Apple shares edged up about 1% in after-hours trading.

Microsoft: Azure Growth Leads; AI Integration a Highlight

Microsoft's earnings also exceeded expectations, with revenue growing 12% to $67.5 billion and net profit rising 15% year-over-year. Among them, Azure cloud platform revenue grew at a robust 22%, well above the market expectation of 20%, with AI services contributing 7 percentage points to that growth. Microsoft CEO Satya Nadella emphasized in the conference call that AI assistants like Copilot have been integrated into product lines such as Office and Dynamics, with significantly improved customer acceptance. Additionally, gaming revenue increased 19% due to the integration effect of the Activision Blizzard acquisition. Microsoft shares rose over 3% in after-hours trading, nearing all-time highs.

Market Interpretation and Outlook

As the highlight of this earnings season, the strong performance of the three tech giants eased market concerns about tech stock valuations. Analysts generally believe that the commercialization of AI technology and the upgrade of cloud infrastructure are becoming core growth engines. However, the market also noted some risks, including Apple's headwinds in Greater China and volatility in Amazon's profit margins.

The S&P 500 and Nasdaq indexes both rose in after-hours trading, with the tech sector expected to lead the broader market higher at the next day's open. Investors will closely monitor the Federal Reserve's interest rate decision next week, but in the short term, the strong earnings season may provide support to the market.

Overall, this mega earnings day sent a positive signal: the investments of tech giants in emerging technology fields are translating into tangible performance returns, while the global wave of corporate digital transformation continues. For investors holding tech stock positions, this is an encouraging quarter, but experts also remind to watch for potential macroeconomic uncertainties hidden in future earnings guidance.

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