Tech Giants Deliver Strong Earnings as NVIDIA Looms

The Magnificent Seven Earnings Report has been dominating headlines, and two tech giants have delivered impressive results. Microsoft's (MSFT) Intelligent Cloud revenue came in at $39.3 billion, beating consensus estimates by a significant margin. This growth is particularly noteworthy as it reflects the company's investments in AI infrastructure.

Apple (AAPL) has also reported strong earnings, with quarterly revenue of $109.4 billion growing 16% year-over-year. The company's installed base of active devices reached an all-time high across its major product categories, and gross margin saw a benefit from tariff refunds.

The iPhone remains Apple's biggest source of revenue, but the Services category has quickly grown to be another top-line contributor. Microsoft's cloud growth is also a key benchmark for investors, with Azure providing AI computing power to businesses.