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What lies beneath these exceptional earnings

A couple features of the current AI driven boom are skewing the numbers.

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axios.comStai leggendo16 h fa

What lies beneath these exceptional earnings

S&P 500 +47% Q2 2026; Amazon/Alphabet +242%/+300% from unrealized gains on Anthropic/SpaceX. Capex AI inflates profitability—capex capitalized slowly vs. vendor gains immediate—requiring scrutiny in capex decisions.

originale

investorplace.com6 h fa

The $152 Billion Reason Earnings Look So Strong

S&P 500's 47.4% Q2 growth inflated 65% by Alphabet-Amazon's $152B portfolio gains; real growth: 28.8%. For tech managers: earnings headlines mask paper gains, not business strength. Real opportunity: energy refining margins driven by geopolitical supply constraints.

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Timeline cronologica

martedì 4 agosto 2026·axios.com
What lies beneath these exceptional earnings
A couple features of the current AI driven boom are skewing the numbers.
martedì 4 agosto 2026·investorplace.com
The $152 Billion Reason Earnings Look So Strong
The 47% earnings headline has an asterisk… the sector actually carrying the load… and the guy who keeps building things nobody saw coming