Mag 7 Earnings Preview: Wall Street Faces $11 Trillion Test

• 4 of “Magnificent 7” set to publish earnings 

• Combined market cap of 4 tech titans over $11 trillion

• Beyond earnings, key focus on tariff impact & AI spending 

• Meta could move almost 6% ↑ or ↓ post earnings

• Apple shares ↓ over 15% year-to-date

Four of the “Magnificent 7” tech giants with a combined market capitalization of over $11 trillion are set to publish their results this week. 

And this could be pivotal for markets given the ongoing uncertainty around Trump’s tariff drama. Investors will be eager to learn from these titans how global trade developments have affected their businesses.

Note: A volley of country-specific tariffs will take effect on August 1st, with the United States only securing six trade deals as of writing. There could be a potential extension of a tariff pause between the US and China.

Fresh updates from Mag 7 companies Microsoft, Meta, Amazon and Apple will be in focus. 

Here is what you need to know:

 

1) Microsoft 

Microsoft reports on its fiscal Q4 2025 earnings on Wednesday 30th July after US markets close. 

Shares of the tech giant have gained over 20% year-to-date, with Wall Street analysts expecting Microsoft to post revenue and income growth amid growing AI demand. Quarterly revenues are projected to jump by 14% to $73.9 billion, while earnings per share are forecast to increase to $3.37 from $2.95 the same time a year ago. 

Beyond revenue growth, updates on the Azure cloud service and AI initiatives will be in focus. 

Markets are forecasting a 3.9% move, either up or down, for Microsoft shares post earnings.

 

2) Meta 

Meta is set to report second-quarter earnings after US markets close on Wednesday 30th July.

Shares of this tech titan are up almost 20% since the start of 2025, powered by the hunger for AI. Quarterly revenues are forecast to rise $44.8 billion – marking a 15% jump from a year earlier while EPS are seen jumping to $5.89 from $5.16. 

Markets are forecasting a 5.8% move, either up or down, for Meta shares post earnings.

 

3) Amazon 

Amazon is scheduled to report second quarter earnings after US markets close on Thursday 31st July. 

The tech giant is expected to report a nearly 10% jump in revenues to $162.1 billion while earnings per share are projected to increase to $1.32 from $1.26 the same time a year ago. Amazon Web Services has shown dominance in the cloud computing space, so the AWS and advertising business will be in focus. 

Markets are forecasting a 5% move, either up or down, for Amazon stocks post earnings.

 

4) Apple 

Apple reports its quarterly results after the closing bell on Thursday 31st July. 

It has been a rough year for Apple thus far with its share down over 15% year-to-date. 

The iPhone maker is expected to report 4% revenue growth amid improving services revenue and iPhone sales. Still, investors will be looking for updates on investment in Apple Intelligence and sales in China. 

Markets are forecasting a 3.5% move, either up or down, for Apple shares post earnings.

Big Tech Earnings Apple Meta Platforms Microsoft Amazon