Tech Giants Face Earnings Test Amid Record-Breaking Rally

The tech giants will report their quarterly results after market hours on Wednesday, setting the tone for the broader market and AI trade.

Four of the biggest tech companies - Amazon (AMZN), Meta Platforms (META), Microsoft (MSFT), and Alphabet (GOOGL) - will release their financials simultaneously in a rare event. This comes as the Roundhill Magnificent Seven ETF (MAGS), which tracks these stocks, is heading for its best month since its launch in December 2023.

The MAGS fund has surged 15.4% this month, with gains supported by the adjacent chip sector - the iShares Semiconductor ETF (SOXX) is up 34% in April and also on track for a record-breaking month.