Tech Sector Booms: Meta & Microsoft Beat Expectations, Market Rises

Meta Platforms (META) and Microsoft (MSFT) delivered impressive earnings for the first quarter, exceeding Wall Street’s forecasts. Driven by robust advertising revenue and advancements in AI, Meta reported a record $16.64 billion in profit with 16% growth in revenue to $42.31 billion. Microsoft continued its streak of outperforming expectations, reporting $70.07 billion in revenue and highlighting massive investments in artificial intelligence, including plans for an allocation of $80 billion this fiscal year. These successes, however, are countered by the broader tech industry facing economic headwinds and trade policy uncertainties stemming from the Trump administration, impacting market stability. Companies like Amazon, Apple, and Tesla continue navigating these challenges. Notably, Tesla experienced a dip in profits, while Microsoft has pledged to oppose government actions aiming at halting operations in Europe, highlighting ongoing tensions in international trade.