Big Tech Earnings Week is Over. Who Won and Lost?
Big tech earnings week closed with a strange scoreboard. Most companies beat Wall Street's estimates, yet almost every stock fell, and hundreds of billions of dollars in market value vanished in two sessions.
Four signals explain it better than the headlines. Price reaction, money flow, options positioning, and analyst revisions show who actually won the week.
Why This Big Tech Earnings Week Mattered
Seven heavyweights reported in four days. Texas Instruments opened on July 21, Alphabet, Tesla, IBM, and ServiceNow followed on July 22, and Intel and SAP closed the set on July 23.
The week doubled as the first real test of AI capital spending at scale, after earlier calls to dump tech into the reports. Investors wanted proof that record data center budgets are turning into profit.
Commentators estimated the megacap group shed $800 billion in a single day, the worst since April 2025.
