This week brings a huge earnings test for AAPL, AMZN, GOOG, META and MSFT. I’m going to sell Microsoft out of my 12-18 month Jubak Picks Portfolio on Monday, April 27, ahead of the earnings report. That position is up 319% since I initiated it on June 14., 2018. I am keeping Microsoft in my long-term 50 Stocks Portfolio. That position is up 40% since I initiated it on January 18, 2022.
The Magnificent Seven stocks–Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla–now account for about 35% to 40% of the market cap of the Standard & Poor’s 500 index.
China’s AI disruptor DeepSeek is preparing to introduce a new model. Reuters had initially reported that DeepSeek would launch its next‑generation model “V4,” focused on coding, in mid‑February 2026. Rumors now peg the expected release window as “Q1–Q2 2026.” The mid‑February window has passed but context‑window changes and internal benchmark leaks signal that V4 is close. And it will be a BIG DEAL for AI competitors AND ai chipmakers such as Nvidia (NVDA). A big enough deal that the V4 release will move the entire tech sector and quite probably the stock market as a whole.
Alphabet/Google (G00G) borrowed another $20 billion in its biggest ever U.S. dollar bond sale on Monday. And that’s just the beginning. The company is also planning debut deals in Switzerland and the UK. Including the sale of 100-year bonds.
Drum role, please: That would be the the first time a tech company has tried a 100-year offering since the Dotcom boom of the late 1990s. (Remember how that ended?) The big borrowing spree comes just days after tech companies from Meta Platforms (META) to Amazon.com (AMZN) said they were ramping up capital spending to build out infrastructure for AI. Those capital spending plans sent AI sector stocks into a steep decline on fears that AI companies would not be able to generate the cash flow needed to fund these capital spending plans. But that was sooo last week.
A week of Big Tech earnings reports will confirm or reverse what sure looks like a sector rotation away from tech shares and into metal and mining company stocks.
Taiwan Semiconductor Manufacturing (TSM) has told Nvidia (NVDA) and Broadcom (AVGO) that its advanced capacity is effectively fully booked through 2026 and that it cannot meet all of their requested AI chip volumes.
Prices for memory chips are forecast to soar in 2026. but what just as bad/even worse it looks like chip customers are looking at serious supply shortages during the year.
Higher prices and supply shortages could be enough to put earnings at risk at some high multiple cloud and AI companies.
Alphabet/Google’s Gemini AI is rapidly gaining momentum, with 30% growth in monthly active users versus ChatGPT’s 6% growth between August and November 2025.
CEO Sam Altman has declared a “code red” at OpenAI to improve ChatGPT as the company faces intense competition from rivals, such as Alphabet (GOOG) with much deeper pockets.
To my mind the question of whether any AI startup can “win” against Big Tech competitors such as Google, Microsoft (MSFT) and Amazon (AMZN) is as important to investors as the questions raised by short sellers about depreciation accounting and potential debt bombs.
According to a report by tech news site the Information, the CEO of the San Francisco-based startup told staff in an internal memo: “We are at a critical time for ChatGPT.”
OpenAI has been rattled by the success of Google’s latest AI model, Gemini 3, and is devoting more internal resources to improving ChatGPT.
No slowdown on plans for AI capital spending in earnings results this past week from Big Tech. Alphabet/Google (GOOG) said it was increasing what it planned to spend on A.I. data center projects this year by $6 billion, after spending nearly $64 billion over the past nine months. Microsoft (MSFT) said it had spent $35 billion in its latest quarter, $5 billion more than it had told investors to expect just a few months ago.
Amazon (AMZN) said it would be “very aggressive” in adding more data centers and would spend $125 billion this year-— and even more next year. Meta Platforms (META) raised its spending forecast to at least $70 billion by the end of the year, which would be nearly double what it spent last year. The stock market reaction wasn’t unalloyed joy. Investors seemed generally positive on spending plans from Alphabet, Microsoft, and Amazon. And skeptical of Meta’s strategy and spending.
In his decision of the remedies in one of Alphabet’s (GOOG) anti-trust cases, Judge Amit Mehta ruled late Tuesday, September 2, that Alphabet must open up competition in online search by sharing more data with competitors, and said that the company could not enter exclusive contracts for search. But Mehta ruled that Alphabet did not have to divest its Chrome the browser, the world’s top browser by market share. Today’s decision followed Mehta’s ruling last year that Alphabet held an illegal monopoly in online search and search advertising. Shares in Alphabet rose after hours, gaining 5.7%.
The courts take center stage for investors this week. First, there’s the appeals court decision invalidating the bulk of President Donald Trump’s tariffs. That has thrown the global system of trade into chaos. Second, there are two antitrust cases against Alphabet (GOOG).
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