We're Still Waiting For Earnings From AI To Broaden Out

The earnings and guidance out of Microsoft and Meta are raising more questions

• The earnings/guidance out of Microsoft & META raise some of the same questions that we heard during the last earnings season (over the summer)…when it became evident that the big jump in earnings that the chip makers have been experiencing…has not broadened out to the end users of those chips. 

• On top of earnings, we also have the election and the Fed meeting next week.  So, we could see some interesting moves over the near-term…especially if we don’t know who our next President is going to be by this time next week.

• Updated charts on the big cap tech stocks which report tonight (AAPL & AMZN).