Overview
- The three companies report within a 48‑hour window on Wednesday and Thursday, with the Federal Reserve scheduled to announce its Oct. 28 rate decision before Microsoft’s report and press conference.
- Microsoft goes first and is forecast to post about $90.6 billion in revenue and $4.71 in adjusted EPS while it has guided Azure to 45% constant‑currency growth and projected quarterly capital spending above $50 billion.
- Alphabet is expected to report roughly $127.9 billion in revenue after Google Cloud grew about 82% in the June quarter, and investors will watch that company’s large capex program that produced negative free cash flow in the prior quarter.
- Amazon is forecast to report near $202 billion in revenue with EPS around $1.96–$2.01 in its Oct. 29 release, offering a further read on cloud demand and the cost of scaling AI infrastructure.
- Markets will weigh Fed policy — the rate range is expected to be held at 3.75%–4.00% — together with each firm’s cloud growth, capex outlook and cash‑flow measures because higher rates raise the discount on long‑dated tech returns and affect suppliers and data‑center jobs.