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The tech industry is gearing up for a busy earnings season, with major players like Tesla, Microsoft, Amazon, and Alphabet expected to report strong results. Investors are particularly interested in the companies’ progress in artificial intelligence and the potential impact on their stocks in the future. Analysts predict continued growth and success for these tech giants in the coming years.

Source: https://markets.businessinsider.com/news/stocks/tech-earnings-preview-tesla-microsoft-amazon-meta-alphabet-ai-stocks-2024-4

Amid the ongoing economic effects of the pandemic, Google’s parent company Alphabet has reportedly implemented a round of layoffs that have hit several of its high-profile teams, including those responsible for the Pixel smartphone, Fitbit, Nest, and augmented reality initiatives. The company has not confirmed the exact number of employees affected, but sources say it could potentially be in the thousands. The decision to cut jobs at these flagship divisions comes as a surprise to many, as these products have been largely successful and generated significant revenue for Google. However, the company has been facing financial pressures and may be shifting its focus to more profitable areas.

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Microsoft and Alphabet have reported strong earnings this quarter, indicating that Wall Street is increasingly valuing a company’s ability to develop and deploy artificial intelligence technology. Both companies have leveraged AI in various areas such as speech recognition, natural language processing, computer vision, and robotics. The results suggest investors are willing to reward companies that have made AI a priority, and are a clear sign of the growing importance of the technology in the marketplace.

Despite beating Wall Street’s estimates for both profit and sales, Alphabet Inc, the parent company of Google, saw its stock slide after their latest earnings report. Investors were worried that the tech giant’s advertising revenue was missing their internal growth goals. This sent Alphabet shares down roughly 1% in after-hours trading. Google has seen much of its profit driven by its advertising business and due to a recent frosty EU attitude, these figures could be affected going forward.