U.S. tech giants are set for their strongest quarterly revenue growth in at least a year as their old businesses stabilize, but investors looking for signs of an AI boost may be disappointed.
Microsoft, Google's parent company Alphabet, and Facebook's parent company Meta are expected to rely on a recovery in their corporate programs and digital advertising business, as professional and consumer spending has remained resilient despite an unstable global economy.
Shares of major companies have risen between 36 percent for Microsoft and 157 percent for Meta this year, boosting their combined value to more than $6 trillion and lifting the benchmark S&P 500 index.
Source (Al-Arab Newspaper of London, Edited)
