Microsoft surged approximately 15% to near $451 after its July 29 results, driven by $41 billion in AI capital expenditure and a $678 billion book of signed customer contracts. Amazon enjoys unanimous analyst support with all 28 covering firms on Buy, while the put-to-call ratio dropped from 0.74 to 0.54 signaling bullish sentiment, and its backlog stands at $496 billion. Meta fell roughly 8% to near $539 as free cash flow collapsed to $784 million from $8.55 billion a year earlier due to heavy AI spending and $25 billion in new debt issuance.
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