Closing Bell Closing Bell Overtime: Getting Set For Big Tech; More Metals Mania 1/23/26
8 snips
Jan 23, 2026 
Katie Stockton, technical market analyst who maps S&P momentum, and Dan Niles, portfolio manager focused on big tech and AI, discuss looming mega-cap reports and market positioning. They dive into Microsoft, Apple, Meta and Tesla outlooks. Commodities chatter includes dramatic moves in gold, silver and natural gas. Short, punchy takes on sector rotation, tech momentum and what to watch next.
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Big Tech Earnings Will Test AI Monetization
- Big-cap tech earnings next week will be heavily scrutinized for AI monetization and guidance signals.
- Dan Niles warns the AI spending story may split winners like Google from loss-heavy OpenAI-linked ecosystems.
Look Past Quarterly Noise For Apple's 2026 Catalyst
- Watch Apple beyond the quarter for an AI-enabled foldable iPhone that could trigger an upgrade cycle.
- Expect services to offset some margin pressure from higher memory costs, so focus on full-year catalysts.
Microsoft: Multiple Plays, But OpenAI Risk Looms
- Microsoft benefits from multiple revenue streams including a stake in OpenAI and Azure exposure.
- Investors must weigh strong near-term numbers against risks from OpenAI's mounting losses and memory-cost pressure.