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<\/a><\/p>\nHere\u2019s a look at the megacap results that came out this week:<\/p>\n
Apple Inc<\/strong><\/p>\n The iPhone maker\u2019s results beat expectations, in what was seen as a relief given concerns over supply chain issues and falling consumer spending. The stock gained 2.1% on Friday. It has risen 18% in July, its biggest monthly gain since August 2020.<\/p>\n Apple is showing signs of supply chain improvements in China, which bodes well for the coming period, which are seasonally its biggest quarters, Bloomberg Intelligence analyst Anurag Rana said.<\/p>\n Microsoft<\/strong><\/p>\n The initial reaction to Microsoft\u2019s report was decidedly mixed, after both sales and earnings came in below expectations, hurt by foreign-exchange headwinds, an issue it had warned about in early June. However, the stock saw a dramatic turnaround after it gave a robust forecast for the fiscal year, with revenue and operating income seen increasing at a double-digit pace.<\/p>\n That Microsoft, which has a market value above $2 trillion, can steadily deliver such sizable growth is a key reason why investors continue to gravitate toward the stock.<\/p>\n \u201cWe\u2019re still looking for growth, but the number of choices we have for that is rapidly narrowing,\u201d said Patrick Burton, a portfolio manager at Winslow Capital Management, which oversees about $26 billion.<\/p>\n \u201cIn this uncertain environment, we\u2019re narrowing our focus to the names that can meet expectations or guide in line. That means names like Microsoft, Alphabet or Amazon.\u201d<\/p>\n Shares rose 0.3% on Friday.<\/p>\n Alphabet<\/strong><\/p>\n The Google parent reported revenue that was roughly in line with expectations, easing concerns about the market for online advertising. Those concerns had risen after a disastrous report from Snap Inc, although Alphabet\u2019s Search business pointed to resilience even in a weaker backdrop.<\/p>\n \u201cSearch is doing much better than other forms of digital ads, so it didn\u2019t see the weakness that Meta or Snap saw,\u201d said Winslow\u2019s Burton. The stock is attractive at about 17 times estimated earnings, he said. That\u2019s below its 10-year average and the Nasdaq 100\u2019s multiple of 21 times.<\/p>\n \u201cI think you\u2019ll see both growth and value investors moving into Alphabet,\u201d he said.<\/p>\n Shares fell 0.1% on Friday but are up 4.6% in July. It is on track for its first positive month since March, as well as its biggest monthly gain since October.<\/p>\n Amazon.com<\/strong><\/p>\n The e-commerce company delivered a blowout report and gave a strong sales forecast, easing concerns about the impact that inflation is having on consumer spending. The stock gained 11%. For the month, it is up about 28%, putting it on track for its biggest one-month gain since 2007.<\/p>\n Meta Platforms Inc.<\/strong><\/p>\n The Facebook parent has struggled throughout 2022, and this week\u2019s results did little to change that narrative. The company reported its first drop in revenue ever and forecast a further fall in sales in the current period.<\/p>\n Meta\u2019s outlook did not look as dire as that of Snap, but it is also not proving to be as resilient as Alphabet\u2019s Search business as the economic backdrop weakens.<\/p>\n Shares fell 1.8% on Friday. For the month, Meta is down 2% and on track for a fourth straight monthly decline. That would represent its longest such streak since 2018.<\/p>\n<\/a><\/p>\n