The Daily Breakdown looks at the earnings reaction from Apple, Amazon, Alphabet, Meta, and Microsoft — as well as Bitcoin’s drop.
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What’s Happening?
More than 40% of the S&P 500’s market cap reported last week — including around $15 trillion in combined market cap for Apple, Alphabet, Amazon, Meta, and Microsoft. The reaction from those firms? Mixed.
Amazon rallied to record highs (as we discussed yesterday), while Alphabet inched higher (+2.5%) and Apple was about flat (-0.4%). Microsoft had a modest drop (-2.9%), while Meta really tumbled (-11.3%).
The Results
These firms all beat revenue expectations, and on an adjusted basis, all of them beat on earnings estimates too. I say “adjusted” earnings because a one-time tax charge of $15.9 billion caught Meta investors off-guard. Regardless, it was another strong quarter of growth, which is the theme for tech.
In June, we asked if tech could outperform in the second half, given that it was the sector with the highest earnings growth expectations for the year. Well it now has the highest earnings growth expectations for 2026 too — with the Magnificent 7 acting as a powerful engine to that growth.
That said, through Monday’s close the sector is up more than 30% on the year vs. a gain of “just” 16.5% for the S&P 500. Without a strong reaction to earnings — and Palantir isn’t helping sentiment today — could this group be due for a breather?
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The Setup — Bitcoin
Bitcoin had been doing a great job holding the $107K to $111K range — a zone that had served as both resistance in 2024 and in the first half of 2025, then as support in the second half of the year. Now though, BTC is breaking lower and retesting its October low near $103,500.
From here, investors want to know if BTC will hold above $100K and find support near the 50-week moving average. This longer-term moving average has been a key support level for about two years now. That doesn’t mean it will be support this time or that BTC can’t temporarily break below this measure before regaining it in the weeks or months ahead. Bulls should be mindful to see if support comes into play above $100K.
Options and ETFs
For investors who can’t trade or aren’t comfortable trading cryptocurrencies outright, they can consider ETFs. On the BTC front, IBIT remains the largest ETF by assets, while also supporting options trading.
Bulls can utilize calls or call spreads to speculate on upside, while bears can use puts or puts spread to speculate on downside. In either case, investors may consider using adequate time until expiration.
For those looking to learn more about options, consider visiting the eToro Academy.
What Wall Street’s Watching
PLTR
Shares of Palantir hit new record highs on Monday, but are down more than 7% this morning after the firm reported earnings. That’s despite the company beating on earnings and revenue expectations, and with management raising guidance. As of Monday’s close, the stock was up 174% this year and 400% over the past 12 months. Check out the chart for PLTR.
Uber stock is also down this morning, slipping about 5% despite the firm reporting earnings of $1.03 per share on revenue of $13.5 billion. Those figures were both above analysts’ expectations, which called for earnings of 91 cents per share on revenue of $13.3 billion. According to CEO Dara Khosrowshahi, “This was our strongest growth since the end of 2023 and the largest trip volume increase in Uber’s history outside the post-Covid rebound.”
Shares of Ferrari are trying to move higher this morning despite selling pressure in US stock indices. That’s after the company delivered a top- and bottom-line beat, shaking off some tariff-related concerns. Take a closer look at RACE with our recent Deep Dive.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.