Magnificent Seven Earnings: Apple and Microsoft Lead the Way

NVIDIA is yet to report its Q2 earnings as six of the Magnificent Seven have already delivered their results. Microsoft and Apple posted solid performances, with both companies seeing strong growth.

Apple's quarterly revenue reached a record $109.4 billion, growing 16% year-over-year. Adjusted EPS came in at $2.02, increasing by 29% from the previous period.

The tech giant reported double-digit revenue growth across iPhone, Mac, and Services, with similar gains in every geographic segment. Its installed base of active devices reached an all-time high across its major product categories.

Microsoft also posted impressive results, with sales growing by 18% year-over-year alongside 23% year-over-year growth in earnings. The company's Intelligent Cloud revenue came in at $39.3 billion, beating consensus estimates and growing 32% year-over-year.