Earnings Season and Tech Earnings

Strong MSFT earnings (+15.5%) and 86% beat rate, but Apple fell 9% on guidance miss. Amazon's AWS acceleration (+37%) adds to AI capex validation. Q2 earnings preview shows +23.6% EPS growth, breadth improving. Next week: AMD earnings, SpaceX first report. NVDA preview (Aug 26) with $91B guidance and sell-the-news risk. Tech earnings remain pivotal for SPY direction.