US markets look to the final stop of this week's Mag 7 earnings season. GOOGL, AMZN, META, and MSFT have printed Q1 with AI at the center, while Apple reports after the close tonight.
The four results that have come in confirm that AI capex spending remains aggressive. Google Cloud and Azure are growing strongly, AWS holds momentum, and META keeps margins steady despite continued Reality Labs burn.
Apple is now tested on Apple Intelligence rollout and iPhone demand in China. Samsung overnight provides additional context with memory profit jumping 48x.
Tonight's Watchlist 📈
| Stock | Movement | What to Watch |
|---|---|---|
| AAPL | Reports post-market, flat (-0.07%) | Apple Intelligence, iPhone demand, services margin |
| NVDA | Not reporting, -0.22% | Samsung shipping HBM4 and SOCAMM2 for Vera Rubin |
| AVGO | Not reporting, flat | Samsung guidance on advanced logic customer wins |
| MU | Not reporting, +~0.5% | Direct comp to Samsung memory profit jumping 48x |
| AMAT | Not reporting, flat | Samsung guidance on AI chip supply shortage through 2027 |
Apple is the only megacap catalyst tonight. NVDA, AVGO, MU, and AMAT trade as a cohort behind Samsung's overnight read-through.
Tonight's Catalysts 🧨
- Apple after the close closes the Mag 7 earnings week. Focus on Apple Intelligence and iPhone demand in China.
- GOOGL, AMZN, META, MSFT have already reported this week with aggressive AI capex as the through-line. Positive sentiment carries across the chip complex.
- Samsung's 8x profit surge plus memory profit jumping 48x sends a positive signal for NVDA, AVGO, MU, and AMAT.
- Samsung shipping HBM4 and SOCAMM2 to Nvidia for the Vera Rubin platform confirms NVDA's position at the top of the next-gen AI supply chain.
- Brent at $120 on the Iran shock is a macro overlay. AI remains the dominant tape narrative tonight.
Pre-Market Pulse 📊
Futures trade cautiously into Apple. AI semiconductors are the cleanest pre-market story, with Samsung leading the memory market on 48x profit and strong customer logic commentary lifting NVDA, AVGO, MU, and AMAT.
Outside the AI watchlist, energy names (XOM, CVX, OXY) attract strong bids on Brent at $120, while industrials like CAT face pressure from energy cost concerns.
Macro Note 📝
Brent at $120 (+8% on the day, Iran shock), USD/IDR at ~17,365 (Rupiah pressured by oil import bill).
Apple takes the last stage for this week's Mag 7 earnings. The four prior prints gave positive signals for the AI theme, and Samsung's overnight result reinforces this narrative across the entire semiconductor complex.
Which AI stocks are you watching ahead of Apple's earnings tonight?
