Pavlo Kot

Stocks fall after earnings while capex guides hold, Puru Saxena notes

Stocks fall after earnings while capex guides hold, Puru Saxena notes
Alphabet and Amazon stick to 2026 capex

Alphabet and Amazon have both maintained their approximately $220 billion and $195–205 billion capital expenditure guides for 2026, respectively. Alphabet stated that its spending will rise "significantly" in 2027, and reported that its cloud revenue more than doubled.

Puru Saxena, investment commentator and former fund manager, reported that despite these announcements, both companies saw their stocks sell off sharply following their earnings reports.

Recent commentary from Saxena noted that a two-week period of heavy tech stock selling has previously coincided with major market lows, as reported in a prior article. He also called the recent AI sector selloff linked to CoreWeave's capital structure illogical, indicating expectations for a rebound in fundamentally strong stocks in a separate report. These observations follow continued volatility in large-cap tech shares.

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