Big Tech gets mixed reviews on AI investments... Microsoft and Amazon smile, while Meta and Apple take a hit

During earnings season, the market cap of six megacap companies swung by about $2 trillion in a single week.

Amazon, Microsoft, and Alphabet gained sharply on expectations for cloud and AI-driven growth.

Meta lost value amid doubts about its investment strategy, while Apple fell on memory shortages and a weak forward outlook.

Tesla also declined after announcing plans to expand investment.

The market is now testing whether AI infrastructure and cloud demand can translate into real earnings.