๐ Tesla $TSLA -14%, Alphabet $GOOG -7% โ Big Tech's brutal earnings week recap
It was a punishing week for megacap tech. Tesla cratered 14% after Q2 EPS fell 18% YoY to $0.33/share (revenue did grow 26% to $28.2B). Alphabet tumbled 7% as investors balked at soaring AI capex plans. Thursday alone saw the S&P 500 drop 1.2% to 7,408 and the Nasdaq sink 2.1%. Is megacap AI spending becoming a drag on earnings? Not financial advice.
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