Mag 7 Earnings Superweek: Alphabet, Microsoft, Amazon, Meta Report April 29 — $649B Combined AI Capex Under Scrutiny
CNBC·high signal
Four of the five largest hyperscalers report Q1 2026 earnings on April 29 (Apple on April 30), with combined 2026 AI capex projected at $649B: Amazon ~$200B, Google $175-185B, Microsoft ~$146B, Meta $115-135B. The key investor question has shifted from 'are they overbuilding?' to 'is capex translating into revenue and margins?' Capex guidance direction will move markets.