Google and Tesla Headline Tech Earnings This Week

It’s midsummer, but now is not the time to be on the beach. This week, we’ve got Alphabet, Google’s parent, and Tesla reporting second-quarter earnings, and the week after, we’ll get Meta Platforms, Amazon, Microsoft, Apple and PayPal, a company in the takeover spotlight right now. Of most interest, of course, is how Google, Amazon and Microsoft are doing on the AI front, both in their cloud businesses and in their other core operations of advertising, retailing and software, respectively.

On that front, investors have high hopes for Google. In the first quarter, a 63% surge in its cloud unit lifted Alphabet’s top-line growth to 22%, up 4 percentage points on the fourth quarter. Analysts think Google maintained that robust growth rate in the second quarter, with the consensus growth estimate at 21%, according to S&P Global Market Intelligence. The cherry on top will be an expected huge gain Alphabet will report on its early stake in SpaceX, which went public in early June.