WS #13128
Amazon's AWS acceleration and Microsoft's Azure growth are driving a tech rally, while Apple's supply-constrained guidance triggers a sharp selloff, creating a clear MAG7 divergence. US 10-year yield at 4.7388% (highest since Jan 2025), hot ECI (0.9% vs 0.8%), and strong Michigan sentiment (55.2) reinforce the Fed-hawkish narrative, pressuring growth stocks and supporting financials. Google plans to produce up to 15 million TPUs by 2028, challenging NVIDIA, while Moonshot uses 20k NVIDIA chips via Alibaba, and Micron sees bearish options flow ahead of earnings.
Mega-cap tech earnings bifurcation
Amazon's AWS acceleration and Microsoft's Azure growth are driving a tech rally, while Apple's supply-constrained guidance triggers a sharp selloff, creating a clear MAG7 divergence.
US 10-year yield at 4.7388% (highest since Jan 2025), hot ECI (0.9% vs 0.8%), and strong Michigan sentiment (55.2) reinforce the Fed-hawkish narrative, pressuring growth stocks and supporting financials.
Google plans to produce up to 15 million TPUs by 2028, challenging NVIDIA, while Moonshot uses 20k NVIDIA chips via Alibaba, and Micron sees bearish options flow ahead of earnings.