Tech Giants Exceed Expectation in Q2

Tech giants of the GAMAM (formerly GAFAM) order exceeded earnings expectation this past quarter, some by a lot. This is according to financial filings published by the companies in the past two weeks. Apple published its earnings report Thursday and saw the biggest quarterly increase in revenue in more than three years at almost 10 percent. Strong iPhone sales as people are upgrading ahead of feared tariff price increases coincided with the release of new MacBook Air models, while services continued strong growth. Also yesterday was the release of Amazon figures. Revenues of the e-commerce giant grew even more, by over 13 percent. Despite this, cloud business sales staying behind competitors' growth and the company giving a mixed outlook concerning tariffs in the future hurt Amazon's stock upon the announcement.

Alphabet announced revenue growth of almost 14 percent year-over year last week, saying that demand for cloud services was up. The company previously announced it would be partnering with OpenAI. Microsoft also said its good results were due to a strong cloud business as AI progress demands ever-increasing data center capacity. Meta which released its figures together with Mircorsoft on Wednesday is meanwhile continuing its investments in AI and superintelligence as the technology is already improving its core business in ads, the company said.