Wall Street Breakfast Podcast: Big Tech Delivers, Capex Jumps

Alphabet (GOOG.OQ) beat Q1 estimates with revenue up 22% to $109.9B, marking 11 straight quarters of double-digit growth; Q1 capex more than doubled to $35.67B and management raised the quarterly dividend 5% to $0.22, sending GOOG up ~6% premarket. Meta, despite beating Q1 sales and EPS, issued weak guidance and materially increased its capex outlook to $125B–$145B for 2026 and reported a $4.03B Reality Labs loss, sparking an ~8% premarket decline. Microsoft and Amazon posted results that broadly beat forecasts but produced modest, mixed premarket moves. Qualcomm jumped after strong results and is listed among the day’s largest movers. Market indices and commodities showed mixed early action (oil higher, gold and bitcoin up modestly). Overall, Big Tech earnings and raised capex plans are driving sector volatility, boosting outperformers like Alphabet while penalizing companies with heavier forward spending and tepid guidance.