5 Key Earnings Reports Will Drive ETFs This Week

The five stocks reporting make up nearly a quarter of the S&P 500.

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sumit
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Senior ETF Analyst
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Reviewed by: etf.com Staff
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Edited by: etf.com Staff

Next week might be the biggest week of the year for markets, with the U.S. presidential election taking center stage, but this week will give investors plenty to digest as well.

On tap are earnings reports from five of the Magnificent Seven: Alphabet on Tuesday; Microsoft and Meta on Wednesday; and Apple and Amazon on Thursday.  

The five companies make up nearly a quarter of S&P 500 funds like the iShares Core S&P 500 ETF (IVV) and the Vanguard S&P 500 ETF (VOO), and their results are a bellwether for the broader market—as well as the hottest stock of the year.

Indeed, all five companies will provide clues on the demand for artificial intelligence, with big ramifications for the AI chip powerhouse Nvidia. 

Five of the Magnificent 7 Set to Report Earnings

The semiconductor company, which makes up more than 7% of the S&P 500, doesn’t report earnings until Nov. 21, but four of the five Mag-7 members reporting this week are big Nvidia customers (Apple is the one exception). 

In particular, investors will pore over any figures and commentary that hints at how much money will be spent on AI infrastructure in the months ahead. 

They’ll also be interested to know whether the massive AI infrastructure investments that Alphabet, Microsoft, Meta, and Amazon are making are paying off in the form of faster revenue growth for those companies. 

Expectations couldn’t be higher. Nvidia is up 187% this year, while Microsoft, Amazon, Meta, and Apple are up anywhere from 14% to 63%.

Tesla, the one Mag-7 member to report last week, surged nearly 22% on Thursday after reporting better-than-expected earnings and promising rapid growth next year.

The $800 million Roundhill Magnificent Seven ETF (MAGS) is up 47% so far this year. The fund has attracted $657 million of inflows since the start of the year. 
 

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.

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