Markets Hold Breath as Mega-Cap Earnings Flood In

The Big Story: Tech Earnings Week

This is the most important earnings week of the year. Microsoft reports fiscal Q4 results on Wednesday after the close. The $2.8 trillion company is the single biggest test of AI spending sentiment. Amazon and Apple follow later in the week. Options flow is split — both bullish and bearish bets are piling up across semiconductors and megacap tech ahead of the prints.

Micron Technology is at the centre of the tug-of-war. Up 247% year-to-date, it sits atop both the positive and negative options bets rankings. Tesla leans bearish — RSI sits at 29.1 and the stock is down 29% this year. Oracle is down 38% YTD but analysts see 107% upside to target. That gap is drawing attention.

Energy Upgraded, Cable Cut

Analysts lifted targets across oil majors today. ExxonMobil, Chevron, and ConocoPhillips all got consensus bumps after solid quarterly results. Meanwhile, Charter Communications saw its target trimmed to $208.47. Short interest there sits at 25.9% of free float as cord-cutting pressure builds.

Separately, oil headlines are commanding attention globally. Brent crude has pushed above $100, driven by Middle East tensions. That threatens inflation expectations and rate outlooks worldwide.

Bears and Billionaires

Short sellers pressed hardest into distressed names. Hertz hit 75% SI % FF with zero shares left to borrow. Chewy sits at 72.4%. Wolfspeed reached 80.2% despite a 162% three-month rally.

On the insider front, billionaire Carlos Slim filed sales of $112M in PBF Energy this week. That follows a consistent pattern of exits as the stock climbed from $46 to $64.

Global Note

China fined Trip.com $765M for monopoly abuses. Hong Kong's stock exchange relaxed listing rules today. Meta faces higher borrowing costs after a $12B data centre deal met investor anxiety over rising AI exposure.