Morning Brew Daily

Snap Breaks Earnings Curse & US Soft Landing in Trouble?

Apr 26, 2024
Big tech earnings take center stage as Meta, Microsoft, and Alphabet reveal their financial performances. However, hopes for a smooth economic recovery might be fading as reports suggest a troubling slowdown. Chipotle shines as the stock of the week, while Southwest Airlines faces challenges. Meanwhile, Oracle makes waves by relocating its headquarters to Nashville, leaving behind its Austin roots. Lastly, Venice introduces a tourist entry fee in a bid to curb overtourism, sparking discontent among locals.
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INSIGHT

Microsoft's AI Success

  • Microsoft is seeing positive returns from its AI investments, unlike Meta and Alphabet.
  • Its cloud computing unit, Azure, saw 31% sales growth, partially due to AI services.
ANECDOTE

Meta's AI Spending

  • Meta's stock dropped 11% after announcing increased capital expenditures for AI.
  • Investors are wary after Meta's metaverse losses, despite record first-quarter revenue.
INSIGHT

AI Impact on Business

  • Tech companies are heavily investing in AI, but tangible business benefits are mixed.
  • Meta's spending billions, while Microsoft sees Azure growth from AI services.
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