October 14, 2026 - Our Magnificent 7 earnings preview shows that Q3 won’t be won on EPS beats alone. CFRA analysts Angelo Zino, CFA, Arun Sundaram, CFA, CPA, and Garrett Nelson argue that the stocks set to keep running are the ones telling the most convincing AI monetization story.
Cloud is the bright spot, with Google Cloud poised for 85%-90% growth and both Microsoft Azure and Amazon Web Services accelerating from Q2. Microsoft’s new reporting structure will also give investors their first look at Azure revenue in dollars. Advertising growth at Meta and Alphabet should slow on tough comparisons but still meet or beat expectations, and early metrics on Meta’s Muse assistant are a key watch item. Tesla’s delivery beat may not carry through to earnings, because gross margins and regulatory credit revenue remain the swing factors. Apple’s upside depends on its new Duo foldable and on John Ternus’s first earnings call as CEO. NVIDIA’s Vera Rubin platform is set to be the fastest product ramp in the company’s history. The team already models another 50% jump in hyperscaler capex for 2027, so the question is which companies can show a return on that spend.
Download the full report for company-by-company expectations, ratings, and 12-month target prices across all seven names.